Russian Energy Minister Expects Oil, Gas Condensate Output to Reach 556 Mln Tonnes in 2018
Russian oil and gas condensate production is expected to grow up to 556 million tonnes in 2018, Russian Energy Minister Alexander Novak said on Tuesday.
MOSCOW (Pakistan Point News / Sputnik - 18th December, 2018) Russian oil and gas condensate production is expected to grow up to 556 million tonnes in 2018, Russian Energy Minister Alexander Novak said on Tuesday.
"As for oil and gas condensate production, we expect production volumes to reach 556 million tonnes by the end of the year, which is around 10 million tonnes more than last year," Novak said at a meeting with members of Russian United Russia party.
In October, Novak said that he expected Russian oil production to reach 553-555 million tonnes in 2018.
"We also expect high levels of gas production, almost record-high for the entire period of gas sphere development. We expect [gas production] to reach 723 billion cubic meters [in 2018]," Novak said.
Russian gas production totaled 691.1 billion cubic meters in 2017, and may show a 4.6 percent growth in 2018, according to Novak's estimates.
Novak added that he expected coal production to grown by almost 6 percent to 433 million tonnes in 2018.