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Russian oil companies announced in 2016 will maintain the level of crude oil exploitation

2016-01-20

According to the Latin American news agency reported in Moscow on 15 January, 2016, Alexander Novak who is Russia's energy minister, has denied that Russia will cut its oil production and exports in 2016,And made clear that,As the export volume did not fall,So the oil companies announced that it will maintain crude oil exploitation. Although the oil price is down and down again, however, due to the lack of profit will shut down the company's argument is no baseless
From January to November in 2015,Russian crude oil export revenue is$ 83.32 billion, was down 1.73 times than the same period in 2014. But crude oil export is increased by 8.6%, now it is 222 million tons. In addition, Russia's natural gas sales revenue is decreased by 24.2%, it is $ 38.4 billion. Up to now, natural gas export is 167.2 billion cubic meters. In 2014 same period it is 158.7 billion cubic meters. The export volume of petroleum derived products is increased by 4.2%, and total amount of exports is decrease by 1.71 times.