Russia’s 2016 output, exports seen growing

MOSCOW, December 21, 2016 – Russia’s 2016 hydrocarbons production and exports are expected edge out last year’s levels, Energy Minister Alexander Novak said on Wednesday.


Speaking to reporters in Moscow, the minister projected a 5% rise in annual gas exports to 202.3 bcm (7.1 tcf). He said oil exports would increase by a similar factor to hit 253.5 million tonnes in 2016, equivalent to 5.1 million bopd.

“Oil production is expected at 547.5 million tonnes,” Novak also said, adding that this would mark an 2.5% increase over 2015. The anticipated figure translates to some 11 million bopd.

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