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:  

As Nations Embrace Paris Agreement, World’s Existing Fossil Fuels Set to Exceed its Goals

Entitled “The Sky’s Limit: Why the Paris Climate Goals Require a …

Naomi Klein & the Let­down of the Leap Manifesto: Poli­tics Doesn't Trump Physics, Nor the Economics of Collapse (part 2/3)

Politics can be egalitarian when going up Hubbert's Curve, but it's a whole …

Carbon Tracker Analysis: ‘Renewables are Already Outcompeting Fossil Fuels’

Clean technologies are already cheaper, on average, than the incumbent …

Timeline: The Past, Present and Future of Germany’s Energiewende

The Energiewende (energy transition) is an internationally recognised …

The Sower's Way: the Path for the Future

Our paper on "The Sower's Way" has been published in the IOP …

Just 16,000 Catenary Trucks Would Use All of California’s Electricity with only 2400 to 8300 Miles of Overhead Wires

It makes sense to electrify trucks since fuel from oil, coal, and natural …

The Energy-Water Nexus  

Energy and water are inextricably linked: It takes energy to supply water, …