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Oil output in Russia may decrease from 2015 — Lukoil vice-president

October 22, 2014, 12:52 UTC+3 MOSCOW
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MOSCOW, October 22. /TASS/. Russia’s oil output will be decreasing from 2015, Vice President of oil company Lukoil Leonid Fedun said Wednesday at an industry forum.

“Oil output has stabilized over the last several years. But there will be no more growth,” Fedun said.

Fedun earlier said that oil output of Russian companies will remain flat in 2014 at about 523 million tons and will start falling from 2015.

Fedun said that output may fall by up to 25 million tons, or by 5% by 2017, if the government introduces a tax on additional oil income instead of the current mineral extraction tax, by 2017 Russian companies will produce the same amount of oil as in 2014.

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