RUS | ENG | All
Enter the email or login, that you used for registration.
If you do not remember your password, simply leave this field blank and you will receive a new, along with a link to activate.

Not registered yet?
Welcome!

2021-01-06 14:05:00

RUSSIA OIL PRODUCTION 10 MBD

RUSSIA OIL PRODUCTION 10 MBD

PLATTS - 02 Jan 2021 - Russia produced 42.46 million mt of crude and condensate in December, equivalent to around 10.04 million b/d, according to preliminary data released by the central dispatching unit of the Russian energy ministry Jan. 2.

Output was up slightly on the 41.03 million mt, or 10.03 million b/d produced in November 2020.

Production was down 11% on the 47.65 million mt, or 11.27 million b/d produced in December 2019. This was due to deeper output cuts under the OPEC + agreement in 2020 compared with 2019.

Total crude production reached 512.68 million mt in 2020, equivalent to around 10.27 mil b/d, down 8% on year.

Russia's quota for crude production under the agreement was 8.99 million b/d for August-December, 2020. The deal does not include condensate. Russia has not released a breakdown for crude and condensate production in December, but condensate usually accounts for around 8% of overall output.

From January Russia's quota increases by 125,000 b/d. The group is now meeting on a monthly basis to discuss market conditions and potential changes to output quotas. The next meeting is scheduled for Jan. 4. In late December, Russian deputy prime minister and lead OPEC+ negotiator Alexander Novak said Moscow would support a further increase of 500,000 b/d in the total OPEC+ quota from February if market conditions are stable.

Uncertainty over the impact of the coronavirus pandemic and vaccine rollouts on demand in 2021 is complicating the group's long-term planning.

Russia produced 42.46 million mt of crude and condensate in December, equivalent to around 10.04 million b/d, according to preliminary data released by the central dispatching unit of the Russian energy ministry Jan. 2.

Output was up slightly on the 41.03 million mt, or 10.03 million b/d produced in November 2020.

Production was down 11% on the 47.65 million mt, or 11.27 million b/d produced in December 2019. This was due to deeper output cuts under the OPEC + agreement in 2020 compared with 2019.

Total crude production reached 512.68 million mt in 2020, equivalent to around 10.27 mil b/d, down 8% on year.

Russia's quota for crude production under the agreement was 8.99 million b/d for August-December, 2020. The deal does not include condensate. Russia has not released a breakdown for crude and condensate production in December, but condensate usually accounts for around 8% of overall output.

From January Russia's quota increases by 125,000 b/d. The group is now meeting on a monthly basis to discuss market conditions and potential changes to output quotas. The next meeting is scheduled for Jan. 4. In late December, Russian deputy prime minister and lead OPEC+ negotiator Alexander Novak said Moscow would support a further increase of 500,000 b/d in the total OPEC+ quota from February if market conditions are stable.

Uncertainty over the impact of the coronavirus pandemic and vaccine rollouts on demand in 2021 is complicating the group's long-term planning.

 Crude output by key Russian producers 2019 - 2020 ('000 b/d):

 -----


Earlier:

RUSSIA OIL PRODUCTION 10 MBD
2020, December, 25, 10:40:00
OPEC+ RISSIA OIL PRICE: $45 - $55
In comments, cleared for publication on Friday, Novak also said that Moscow views an oil price between $45 and $55 per barrel as the optimum level to allow for recovery of its oil production,
RUSSIA OIL PRODUCTION 10 MBD
2020, December, 22, 13:45:00
OPEC+ RUSSIA EXTENSION
"The OPEC+ deal has been with us for almost nine months and will continue until April 2022, but it can be extended until the end of 2022," Prince Abdulaziz said, adding that market skeptics and speculators will remain "on their toes".
RUSSIA OIL PRODUCTION 10 MBD
2020, December, 9, 11:35:00
OPEC+ PRODUCTION CUTS 100.2%
OPEC+ compliance with its production cuts stayed stable at 100.2%.
RUSSIA OIL PRODUCTION 10 MBD
2020, December, 8, 13:05:00
OPEC+ OIL PRODUCTION CUTS 7.2 MBD
In April 2020, the OPEC+ decided to cut their overall crude oil production by 9.7 mb/d over the 1 May 2020 - 30 June 2020 period, in an attempt to reduce the global oversupply and to firm up depressed oil prices in a context of COVID-19 pandemic.
RUSSIA OIL PRODUCTION 10 MBD
2020, December, 8, 12:55:00
RUSSIA'S ECONOMY WILL UP 3.8%
Russia’s economy is on track to contract about 4% this year, according to the central bank,
RUSSIA OIL PRODUCTION 10 MBD
2020, December, 7, 13:20:00
RUSSIA OIL PRODUCTION WILL UP
"Russia's increase starting January is around 125,000 b/d, we discussed it with oil companies," Novak said during the OPEC+ press conference.
RUSSIA OIL PRODUCTION 10 MBD
2020, December, 2, 14:40:00
RUSSIA'S OIL PRODUCTION 10 MBD
November production was down 11% on the year at 46.07 million mt, or around 11.26 million b/d. This was due to deeper output cuts under the OPEC+ agreement in 2020 compared with 2019.
All Publications »
Tags: RUSSIA, OIL, PRODUCTION
Chronicle:
RUSSIA OIL PRODUCTION 10 MBD
2022, June, 24, 11:34:00
6TH ANNUAL LNG SUMMIT USA
The 6th Edition of Wisdom’s Much Acclaimed Annual LNG Summit Will Be Held Live in Houston - PREPARING THE INDUSTRY FOR THE RISE IN DEMAND FOR LNG
RUSSIA OIL PRODUCTION 10 MBD
2022, June, 24, 11:33:00
9TH INTERNATIONAL LNG CONGRESS LNGCON 2023
9th International LNG Congress (LNGCON 2023) 6-7 March, 2023 Link to the Congress website: https://bit.ly/3tXVmr7
RUSSIA OIL PRODUCTION 10 MBD
2022, June, 24, 11:30:00
RUSSIAN OIL PROTECTION
Certification by the Indian Register of Shipping (IRClass), one of the world's top classification companies, provides a final link in the paperwork chain - after insurance coverage - needed to keep state-owned Sovcomflot's tanker fleet afloat and delivering Russian crude oil to overseas markets.
RUSSIA OIL PRODUCTION 10 MBD
2022, June, 24, 11:20:00
U.S. LNG EXPORTS DOWN BY 17%
Freeport LNG is one of seven LNG export facilities operating in the United States.
RUSSIA OIL PRODUCTION 10 MBD
2022, June, 24, 11:15:00
ЭНЕРГИЯ РУССКОЙ АРКТИКИ
Обсуждалось строительство газовозов и танкеров-челноков. В частности, 15 газовозов запланированы к постройке на судоверфи «Звезда». В планах – строительство дополнительных судов для транспортировки продукции инвесторов по Севморпути.
RUSSIA OIL PRODUCTION 10 MBD
2022, June, 24, 11:10:00
U.S. SMR FOR POLAND
Last Energy's SMR technology is based on a pressurised water reactor with a capacity of 20 MWe or 60 MWt.
RUSSIA OIL PRODUCTION 10 MBD
2022, June, 24, 11:05:00
PAKISTAN ENERGY CRISIS
This is the third time this month that Pakistan failed to complete an LNG tender for July, and the country’s inability to purchase fuel threatens to exacerbate electricity shortages just as hotter weather boosts air conditioning and power demand.
All Publications »