Oil, industrial production grow 4.2%, 7.5% in 1Q07

Oil output in Russia grew 4.2% in the first quarter of 2007 year-on-year to 121.2 million metric tons (about 890 million bbl) while industrial output climbed 7.5%, the federal statistics body said Thursday.

Crude sales on the domestic market in January-March grew 6.5% to 56.2 million metric tons (413 million bbl), and exports edged up 3% to 63.1 million tons (464 million bbl). In March, domestic sales rose by 5.4% to 19 million metric tons (140 million bbl) and exports by 3.2% to 22.3 million tons (164 million bbl).

The Federal Service for State Statistics said oil accounted for 33% of Russia’s exports in January-March.

RIAN