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Page added on February 13, 2015
Russian oil production to drop by 70000 barrels a day in 2015
Given the impact of sanctions, low prices and the absence of any large projects expected to come online, oil production in Russia will drop in 2015 by 70,000 barrels a day, according to a report from the Organization of the Petroleum Exporting Countries.
At the same time, production at Bashneft’s Arctic fields in the Nenets Autonomous Okrug is going up.
Though Russia plans to maintain production above 10 million barrels a day, it may fall in the coming years if oil prices remain around $50 a barrel for an extended period of time, OPEC said in a monthly report released on Monday. Production is estimated to fall by 70,000 barrels a day, while oil exports will drop by 60,000 barrels a day, according to the report, TASS writes.
At the same time, some companies like Bashneft have continued to see steady growth in their output, with production increasing by 15.1 percent on the year to 382,000 barrels a day in January. This has been mainly because of the doubling of production at the Trebs and Titov oil fields in the Nenets Autonomous Okrug.
In a recent revision of the Trebs and Titov fields the auditing company Miller and Lents almost quintupled proved oil reserves, reaching 104.9 million barrels. Total reserves of the fields were estimated at 271.7 million barrels, which is 3.3 times higher than the corresponding figure one year ago, Oil and Gas Eurasia writes.
Production at the Trebs and Titov fields in the Russian Nenets Autonomous Okrug was launched in August 2013. Oil from the fields is exported through Lukoil’s Varandey terminal on the coast of the Pechora Sea. The terminal has a capacity of 12 million tons per year.
4 Comments on "Russian oil production to drop by 70000 barrels a day in 2015"
bobinget on Fri, 13th Feb 2015 1:06 pm
Rosneft, however will not be cutting production.
http://www.independent.co.uk/news/business/analysis-and-features/igor-sechin-the-oil-man-at-the-heart-of-putins-kremlin-10043230.html
Makati1 on Sat, 14th Feb 2015 7:29 am
Other news with a Russian flavor.
http://www.zerohedge.com/news/2015-02-13/thirst-war-sen-inhofe-releases-fake-photos-russian-troops-ukraine
Insanity is in a race with stupidity in Washington DC and stupidity seems to be winning at this point. But then 80 year old, senile, ‘Senators for life’ are running the show.
Davy on Sat, 14th Feb 2015 8:08 am
Mak, wants us to buy into his blame game of a world being assaulted by DC. An Avatar world of harmony that is being assaulted by the evil human DC colony. Poor global world of truly noble humans. The Great moral and ethical Russian people being beaten down and assaulted by the evil Americans. Sounds like a Mak Sci-Fi story.
Mak also mentions the senile 80 year old congressmen. He is himself is a senile 70 something complaining about other seniles. That my friends is clearly the pot calling the kettle black. As for his referenced ZH article. He has on many occasions called ZH part of the MSM iron curtain but then when he finds news that suits his agenda he posts it. So what is it Mak propaganda or not?
We know that this ZH article, that is probably true, is being used by Mak per his blame game agenda of the 1000 year Asian Reich and destroyed US. Mak has embraced ZH recently because they have turned decidedly anti American and pro-Russian. How could Mak not embrace that? But watch folks as he will eventually respond to a ZH link negative to Asia with a comment that ZH is part of the MSM iron curtain of propaganda. I read ZH daily but I filter out the Mak style propaganda that is a distortion of the truth.
Mak, we know how bad the US is but we are not stupid to be fooled by your agenda of selective anit-American propaganda. It is a shame all the effort you put into your evil blame game are wasted instead of efforts at the truth. You could be giving us thoughtful, balanced, and fair coverage of current events much as a scientist would or a respectable historian.
Mak is part of the iron curtain of hate and resentment. He does not care about the US posters here if they do not buy into his message of hate and resentment. I have asked Mak on numerous occasion for some balance and then we can call a truce. He stabbed me in the back instead on 2 different occasions. That is not friendship that is selfishness.
Mak, did you get up this morning with a glum feeling because the missiles were not flying towards the US? That conflagration of an entire people including your offspring did not happen so is there a letdown? You make me sick Mak.
Pops on Sat, 14th Feb 2015 9:18 am
This is kinda a big deal.
Russia had a big hand in staving off peak in the oughts when the N Sea died.
http://i40.tinypic.com/20r4ff4.jpg