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Monday, February 27, 2006

OPR UPDATE: PEAKING (SIC) AT THE NUMBERS . . .

Russia's Economic and Development and Trade Ministry reported today that Russian oil and gas condensate output was up 2 percent to about 9.4 million barrels per day from January 2005. The fine folks at International Oil Daily give us the breakdown:

Company Jan '06 % Change
Lukoil 7.533
3
Rosneft 6.482
6
TNK-BP 6.264
3
Surgutneftegaz 5.496
4.9
Sibneft 2.603
-8.4
Tatneft 2.162
-0.1
Slavneft 2.052
3.2
Yukos 1.834
-30.5
Russneft 1.259
59.4
Gazprom 1.1
-0.4
Bashneft 1.006 -1.3

However, compared to December 2005, production was down 2.3 percent, largely explained by the not so balmy weather in Russia last month.

On a warmer note, premliminary figures suggest that Russia's crude and condensate production rose by 2.8% in 2005 to reach 9.44 million barrels per day. Not the heady days of 10 percent per year growth seen in the 1990's, but not indicative of immanent demise either, as some of my Peak Oil friends are prognosticating.

1 Comments:

At 3:39 PM, Blogger David Amulet said...

Good point -- not big growth, but certainly not a collapse!

-- david

 

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