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Russia to Increase Oil Production in 2011
12.07.2011 14:06
 Russia to Increase Oil Production in 2011

In 2011 Russia will produce about 510 million tons of oil and break the record of the last year. 

      Earlier the Ministry of Economic Development have predicted that oil production in 2011 will remain at the level of the previous year, but Russian Prime Minister Vladimir Putin believes that oil production will be increased by 1%. "For the first six months of this year, oil production amounted to 252,4 million tons. Therefore, this year production could be even more than last year, approximately 508 or 509 million tons", — said Prime Minister. 

      According to the Ministry of Economic Development, the development strategy of the oil industry by 2020 year implies the stabilization of oil production at 500-505 million tons. The oil exports from the country in 2011 will amount to 242 million tons and 133,9 million tons of petrochemical products. 


Author: Ksenia Dzhalagonia

Tags: Resources Russian business    

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