Oil and gas production collapsed in Russia

In the past 2020, oil and gas production in Russia fell by 8.6 and 6.2 percent, respectively. Such data, corrected for leap years, are given in the operational summary of the Central Dispatch Office of the Fuel and Energy Complex, Interfax reports.

The volume of gas production amounted to 692.33 billion cubic meters. December’s result separately – 66.28 billion, which is 1.6 percent less than in the same period a year ago.

Production of oil and gas condensate for 12 months reached 512 million tons. The average daily rate was fixed at 10.27 million barrels. The fall in December was more serious than the annual average – 11 percent.

Oil exports to non-CIS countries in 2020 decreased by 11.8 percent. Its average daily size was 4.39 million barrels. The system Transneft exported 195.37 million tons of crude oil, 175.62 million of them are Russian resources.

Earlier it was reported that oil and gas revenues of the Russian budget for three quarters fell by 36 percent over the same period last year.

At the December press conference, the President of the country Vladimir Putin said that Russia has already got off the oil and gas needle, since 70 percent of the Russian budget is not formed at the expense of oil and gas revenues. Nevertheless, Ministry of Finance expects that even in 2022 they will account for more than a third budget, and the current result is associated with the coronavirus pandemic and the collapse in demand for resources in the world.

/OSINT/media/social.