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Monday, July 03, 2006

Russia expects higher oil output in Q3

RBC, 03.07.2006, Moscow 10:13:13 - The Russian Industry and Energy Ministry has approved and put into effect the country's third-quarter balances of crude oil, the main types of petroleum products and gas, as well as timetables for oil transportation and transit beyond Russia's customs territory. According to the country's fuel balance divulged by the ministry's press service on Friday, Russia's oil production (taking into account gas condensate) will rise 2.5 percent to 122m tonnes compared to Q3 2005. At the same time, oil supplies to Russian oil refineries will decrease 4 percent to 57.8m tonnes, whereas exports outside the CIS will surge 28.5 percent to 55.9m tonnes. Exports to the CIS will meanwhile shrink 14.1 percent to 9.1m tonnes compared to the same quarter a year earlier.

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