Russian oil production, exports on upward path

Russian oil production, exports on upward path: Putin

Moscow (Platts)--31Aug2004


Russian oil production and exports will continue to climb in 2004, President
Putin told reporters in the Black Sea resort town of Sochi, Itar Tass reported
Tuesday. 

Oil output is expected to total 450-mil mt this year (9-mil b/d) of
which some 255-mil mt (5.1-mil b/d) or 56% will be exported, Putin said. The
Russian leader was speaking at a joint press conference with German Chancellor
Gerhard Shroeder and French President Jacques Chirac. Russian oil production
climbed 10.3% in the first half of 2004 to reach 223.5-mil mt (9.06-mil b/d),
according to the federal statistics agency. Crude exports totalled 101.974-mil
mt (4.13-mil b/d). Foreign sales of oil products amounted to 35.946-mil mt.

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