News // Russia
Oil Prices Jump, Russia To Pump
31 May 2004 , 08:11435
Russia said it will raise its oil export volume if oil prices remain high, and, at the same time, to keep pumping at the same rate even if prices fall.
Finance Minister Alexei Kudrin said on Saturday.
"If oil prices remain high we will boost production and exports. If prices come down again we will not create artificial obstacles for world economic growth by cutting exports," Russia?s Finance Minister Alexei Kudrin told in interview to a Russian radio.
Kudrin's remarks come three days after President Vladimir Putin said Russia should expand export capacity and approve new routes.
Russian production has jumped 50 percent to 9.0 million barrels per day since 1999, but pipeline export capacity has peaked at 4.0 million bpd.
09:38 26.03.2019Energy Transfer and Shell sign agreement to further progress Lake Charles LNG project
00:01 25.03.2019Germany's Wintershall eyes Russian expansion after DEA merger
18:00 21.03.2019NGV fuel becoming increasingly popular in Russia
18:00 19.03.2019Moscow and Baku mull Russian oil to Turkey's STAR refinery