10m bpd target for Russian oil

OIL production from Russia should reach ten million barrels per day (bpd) by 2008, according to the country’s economic ministry, despite a big slowdown in growth over the last year.

The country is the world’s second largest oil exporter, and an economic report prepared by the ministry said production would rise to 9.78 million bpd in 2006, 9.94 million bpd in 2007, and 10.10m bpd in 2008.