Russian oil production reached record in 2011

Jan 21, 2012 12:00 AM

Russian oil production reached a record of 511 mm tons in 2011, but output levels are unlikely to increase further over the next three years, an official said.
Sergei Kudriashov, the vice-minister for energy, said the output level was up by about 1 % last year, a record for the post-Soviet period.

"We understand that in the three coming years, we are going to have a lull in the operation of new deposits," he said.
"That's why the principle task now is to use the resources we have and maximise the efficiency of work in old deposits."

He estimated Russia would be able to maintain an oil output of about 510 mm tons for the next three years.
"In 2008, when oil prices were at a high, we saw a drop in production," he said. "In the last three years, we've succeeded in reversing the trend."

Market Research

The International Affairs Institute (IAI) and OCP Policy Center recently launched a new book: The Future of Natural Gas. Markets and Geopolitics.

Cover_242-width

The book is an in-depth analysis of some of the fastest moving gas markets, attempting to define the trends of a resource that will have a decisive role in shaping the global economy and modelling the geopolitical dynamics in the next decades.

Some of the top scholars in the energy sector have contributed to this volume such as Gonzalo Escribano, Director Energy and Climate Change Programme, Elcano Royal Institute, Madrid, Coby van der Linde, Director Clingendael International Energy Programme, The Hague and Houda Ben Jannet Allal, General Director Observatoire Méditerranéen de l’Energie (OME), Paris.

For only €32.50 you have your own copy of The Future of Natural Gas. Markets and Geopolitics. Click here to order now!


 

Upcoming Conferences
« April 2019 »
April
MoTuWeThFrSaSu
1 2 3 4 5 6 7
8 9 10 11 12 13 14
15 16 17 18 19 20 21
22 23 24 25 26 27 28
29 30

Register to announce Your Event

View All Events