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Article: Long View: Russia Maps Out 20-Year Energy Plan.
- Article from:
- NEFTE Compass
- Article date:
- October 23, 2002
- Author:
CopyrightCOPYRIGHT 2002 Energy Intelligence Group. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Russia is set to ramp up its crude production to 510 million metric tons (10 million barrels per day) by 2010, according a draft plan by the Energy Ministry that maps out Russia's 20-year energy strategy.
Crude output will then begin to gradually drop off by 1%-1.2% a year, reaching 447 million tons (8.95 million b/d) by 2020. The draft says this level would only be reached under an optimistic oil price scenario (Scenario 2 in table below), though it did not say what that price would be.
Russian crude production has averaged 7.51 million b/d in the first nine months of the year, up nearly 9% from year-to-date levels of 6.91 million b/d (see page 10).
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