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Page added on September 21, 2009

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Russian oil exports called unsustainable

Russia can’t sustain the rise in oil exports that saw it surpass Saudi Arabia as the world’s top exporter for the first time in the post-Soviet period, according to OAO Rosneft, the country’s biggest oil producer.
The trend of increasing oil exports isn’t sustainable as the domestic market becomes more attractive for Russian oil producers and tax breaks for exports are lifted, Peter O’Brien, Rosneft’s vice president for finance and investment, told reporters Sunday near Moscow.

Houston Chronicle



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