11.Nov .2021 23:00

Oil Production in Russia to Reach 517 mln Tonnes in 2021

Oil Production in Russia to Reach 517 mln Tonnes in 2021
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Oil and gas condensate production will add 0.8% to 517 mln tonnes and natural gas production will surge by 12% to 777 bln cubic meters as of 2021 year-end, Russian Energy Minister Nikolai Shulginov said.
 
"In 2021, both the global economy and the domestic economy are recovering, despite coronavirus waves. This can be seen from growth of production indicators in the fuel and energy sector," Shulginov said. "Oil and gas condensate production is currently projected to grow by 0.8% as of the year-end in annual terms to 517 mln tonnes. Gas production will be 777 bln cubic meters, up 12% above the last year and higher than in the pre-pandemic year of 2019," he noted, as reported by TASS news agency. 
 
Coal extraction will move up by 8% against 2020 and its export will grow on account of supplies to Europe and Asia-Pacific countries, Shulginov said. Electricity generation will gain 5.6% to 1.123 bln kWh, the minister noted.
 
The Russian Energy Ministry also expects that 40 mln tonnes of motor gasoline and 80 mln tonnes of diesel fuel will be produced in 2021, above 2020 year levels. The ministry also made 21 agreements with refineries on upgrade and construction of about 50 new units. "Owing to these agreements effective until 2026, motor gasoline production will grow by more than 4.7 mln tonnes and diesel fuel output - by 32 mln tonnes," Shulginov said.