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Russia’s oil production in 2015 to remain at same level — energy minister

December 23, 2014, 15:52 UTC+3 MOSCOW
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MOSCOW, December 23. /TASS/. Russia’s oil production next year will remain at the current level of around 525 million tons, Russian Energy Minister Alexander Novak said on Tuesday.

The country’s oil production as of late 2014 is expected to grow by 0.6%, year-on-year, to 526.6 million tons, while oil exports will plunge by 4.3% to 229 million tons, Novak said.

Investments in Russian oil refining will grow by 11.5% to 290 billion rubles or $5.1 billion in 2014, Novak told reporters. All 13 oil refineries will be commissioned according to plans, he said. Another 15 oil refineries are planned to put into operation in 2015.

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