Russia’s oil output increased in October 2011

Jan 04, 2012 12:00 AM

Russia's Energy Ministry said that in October, the country's oil output reached its highest level of 10.34 mm bpd compared with 10.30 mm bpd in September.
The ministry added that daily natural gas output grew 13 % to 1.80 bn cm compared with 1.59 bn cm in the previous month, furthermore, gas output at Russia's Gazprom went up 15 % from September to 1.35 bn cmpd.

It also said that Gazprom's output plunged 9.2 % from the same period a year ago, since buyers in Europe struggled to handle higher gas prices, which reached near $ 500 per 1,000 cm.
It is worth noting that oil production by TNK-BP, the country's third largest oil firm, grew 0.2 % month-on-month to 6.27 mm tons.

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