Russian oil
output to hit 530 million tons by 2015
Nov 1, 2005 - Xinhua English Newswire
Russian oil output to hit 530 million tons by 2015
MOSCOW, Oct. 31 (Xinhua) -- By the year 2015, oil production in
Russia will reach 530 million tons and exports increase to around 310
million tons, Russian Energy and Industry Minister Viktor Khristenko
said Monday.
Western Siberia is Russia's main base of energy resources, where oil
production will be growing by 2010-2015, Khristenko said at the opening
ceremony of the All-Russia Oil and Gas Week.
Europe will remain Russia's main energy market, Khristenko said. He
also emphasized Russia's growing energy exports to the United States,
saying exports of Russia's oil and oil products to the US have more than
doubled over the past year, according to the Itar- Tass news agency.
Russia's energy cooperation with the US is characterized by positive
dynamics, although Russian exports account for only four percent of the
overall energy consumption in the country, Khristenko said.
Russian energy exports to the Asian Pacific region will grow six-
fold within the next decade and are expected to account for 18 percent
of Russia's entire oil and gas exports by the year 2015, he added.
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