oil production in Russia will decrease in 2023 – Kommersant
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Deputy Prime Minister Alexander Novak, during a speech at the Tyumen Industrial and Energy Forum, predicted a decline in oil and gas production in Russia in 2023. According to him, production will decrease to 527 million tons (in 2022 – 535 million tons). Gas production will decrease to 642 billion cubic meters (in 2022 – 672 billion cubic meters).
He noted that the decrease in oil production is also due to interaction within OPEC+. “Today the gas industry is functioning stably; since the beginning of the year, 410 billion cubic meters have already been produced. m of gas,” added Mr. Novak (quoted by TASS).
At the end of August, Alexander Novak announced that the Russian authorities had agreed with OPEC+ representatives on a new reduction in oil exports to foreign markets. The decline in production in July-August led to a reduction in Russian oil exports. In August, seaborne exports amounted to 2.92 million barrels per day (mbd), up from 3.14 mbd a year earlier. According to the Ministry of Finance of the Russian Federation, revenues from the oil and gas industry to the country’s budget for the first seven months of 2023 amounted to 4.19 trillion rubles, which is 1.7 times less than for the same period last year (7.14 trillion rubles).
Read more in the Kommersant article. “In the atmosphere of oil and gas”.
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