Building a world of
resilient communities.

MAIN LIST

 

Russia: Oil production to be flat in 2005

Russia's oil production will probably stay flat or even drop in 2005, a top Russian energy official said Friday.

"Those years where we hit growth rates of 20 percent are behind us," Federal Energy Agency head Sergei Oganesyan said.

Russia's booming oil production in recent years has made it the world's second largest producer, behind only Saudi Arabia. At the end of the 1990s, it posted several years of double-digit growth rates.

In May, Russia pumped more than 9 million barrels a day, a post-Soviet high.

Russia plans to keep boosting production this year in a bid to take advantage of high world prices for oil, its main export commodity. Oganesyan said his agency expects oil output to increase between 7 percent and 8 percent this year.

But in the years to come, he said, production would remain relatively steady.

"I expect Russia's oil production to stabilize, or even slightly dip, in 2005," he said.

What do you think? Leave a comment below.

Sign up for regular Resilience bulletins direct to your email.

Take action!  

Find out more about Community Resilience. See our COMMUNITIES page
Start your own projects. See our RESOURCES page.
Help build resilience. DONATE NOW.

 

This is a community site and the discussion is moderated. The rules in brief: no personal abuse and no climate denial. Complete Guidelines.

Tags:  

IEA in Davos 2016 Warns of Higher Oil Prices in a Few Years’ Time

This recent forum was about how to transition away from fossil fuels, after …

Why the Wild Descent of Oil Is Cause for Concern

The signs of oil's madcap price collapse are everywhere.

It's not Rocket Surgery: Choosing an Indoor Mini Wood stove for a Tiny House

This article will focus on one item which can keep you comfortable in cold …

Peak Oil Review - Feb 8

 A weekly roundup of peak oil news, including: -Oil and the global …

California Offshore Oil Fracking Permits Halted While Federal Government Performs Environmental Review

The U.S. federal government will stop approving offshore oil fracking …

Peak Oil Review - a Midweek Update - Feb 4

 A midweek update. Price volatility increased this week with oil …

Renewables Could Outcompete Costly, Risky LNG, Investors Warned

A new industry report warns investors, governments and regulators that …