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News // Russia

Russia To Increase Significantly Oil, Gas Output, Export

01 November 2005 , 11:09395
Russia may significantly increase oil and gas output and exports by 2015, the Russian Industry and Energy Minister Viktor Khristenko said on Monday.

Speaking at the fifth Russian Oil and Gas Week, he said that Russia could increase oil production to 530 million metric tons a year, and oil exports to 310 million tons by 2015. Russia produced 458.7 million tons of oil and exported 257.4 million tons in 2004. As for gas, according to Khristenko, Russia?s production and export of natural gas could reach 740 billion cubic meters and over 290 billion cubic meters respectively by 2015.

He added that the regions could increase production tenfold by 2010 and 15 times by 2015 on the current figures. The export of Russian fuels to Asia-Pacific countries may rise by six times by 2015. The share of Russian oil products on the North American market has grown more than twice in 2005.

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