Russian Oil and Gas output rise

Russia’s Crude Oil and Nat Gas production saw a favorable increase year-on-year in the first 4 months this year, the Central Dispatching Department of the Fuel and Energy Complex said Tuesday.

From January to April, the country’s oil output reached 165.3 million tonnes, which was a 3.1% growth over the same period of last year; while the gas production soared 20.4% year-on-year to 237.9 billion cubic meters.

According to official figures, in the first quarter Russia’s crude oil output rose 3.2% over the same period of last year to 123.86 million tonnes. The gas production reached 181.65 billion cubic meters, rising 18.3%

Russia became the world’s largest Crude Oil producer in Y 2009 with 494M toness, but its Nat Gas production slid to the 2nd after the United States due to declining market demands.—Paul A. Ebeling, Jnr. www.livetradingnews.com

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