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Wednesday, May 06, 2009

Russia exports 21.5 bln cu m of gas, 55 mln tons of oil in 1Q09

MOSCOW, May 6, 2009 (RIA Novosti) - Russia exported 21.5 billion cubic meters of gas worth $7 billion, and over 55 million metric tons of oil to the tune of $16.5 billion in the first quarter of 2009, the Federal Customs Service said on Wednesday. Gas exports to non-CIS countries plummeted by 61% in January-March 2009 to 18.6 billion cubic meters year-on-year, while gas exports to former Soviet republics totaled 2.9 bln cu m, down 49.8% against the first three months of 2008. Oil exports to non-CIS countries at some 51 million metric tons saw no change, quarter on quarter, and were worth $15.5 billion to Russia. While oil exports to Commonwealth of Independent States increased 5.5% to 4 million metric tons worth $989 million. Gas output in the reporting period declined by 14.7% to 154 bln cu m in Russia, the statistics service said, adding that production in 2008 had slightly increased by 1.6% to 663 bln cu m with exports totaling 174.3 bln cu m amounting to $66.4 billion. The country plans to produce from 620 bln cu m to 644 bln cu m of gas and export 190 bln cu m-196 bln cu m in 2009. The statistics service said Russia reduced oil output by 1.3% to 120 million metric tons (882 million bbl) in January-March 2009. The country's Economic Development Ministry has forecast a 1.1% decline in oil production to 482 million metric tons (3.54 billion bbl) in 2009.

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