2023-11-23 06:50:00
RUSSIAN OIL GAS PRODUCTION DOWN
AA - 21.11.2023 - Russia is expected to reduce both oil and natural gas production this year, according to Deputy Prime Minister Alexander Novak on Tuesday.
Oil is projected to fall by 8 million tons to 527 million tons, compared to 535 million tons last year, he said.
Natural gas production is forecast to be slightly lower this year relative to last year, with a drop of 30 billion cubic meters. He explained that this fall is in part due to a terrorist attack in the first half of last year on the Nord Stream gas pipeline, which stopped gas flow to Europe. However, he said those losses would be partially offset due to an increase in deliveries to China through the Power of Siberia pipeline.
Nevertheless, Novak confirmed that coal production for this year would remain unchanged from last year at 440 million tons.
He also stated that electricity output would continue to rise steadily, increasing by 0.8% year over year to 1.15 trillion kilowatt-hours.
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Earlier:
2023, November, 22, 06:55:00
RUSSIAN OIL PRICE COMFORT
Ministers from OPEC+, which groups the Organization of the Petroleum Exporting Countries (OPEC) and allies led by Russia, meet on Sunday in Vienna.
2023, November, 3, 06:55:00
RUSSIAN OIL, GAS FOR CHINA
Russia is counting on a planned new pipeline to China as it seeks to make up for lost gas sales in Europe, but industry insiders see major political risks around a project that is overly dependent on one buyer and question whether it will justify the huge costs.
2023, October, 20, 06:25:00
RUSSIAN LNG FOR GERMANY
Still, the trade has become a headache for Germany, which has explicitly said it won’t use gas from Russia in the fallout of the war in Ukraine. Berlin is facing sharp criticism over concerns that a government-run company still has ties to Moscow, despite its political rhetoric.
2023, September, 22, 06:45:00
RUSSIAN, AUSTRALIAN COAL FOR CHINA
“Russian and Australian coal shipments are taking market share from China’s biggest exporter Indonesia this year,”
2023, July, 14, 06:45:00
RUSSIAN ENERGY REVENUES DOWN
The central bank still expects a current account surplus of $47 billion this year and $38 billion in 2024. On Tuesday, it said in a statement that Russia’s worsening trade balance was caused by a decrease in export volumes as well as the decline in prices mainly for energy exports.
2023, July, 7, 06:42:00
RUSSIAN CAPITAL FLIGHT
The ruble has grown more vulnerable after a deterioration in Russia’s external finances. Unlike last year, when the government earned a record windfall after a rally in commodity prices, export proceeds have fallen sharply in 2023.
2023, February, 6, 13:05:00
RUSSIA'S GAS PRODUCTION DOWN
Russia’s natural gas production fell by more than 13% in 2022, according to preliminary data published by the Russian state statistics service Rosstat.
