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Oil output in Russia in 2015 may stay at 2014 level — energy minister

January 30, 2015, 21:48 UTC+3 MOSCOW
In 2014, Russian oil output reached 527,000 million tons
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© Dmitry Rogulin/TASS

MOSCOW, January 30. /TASS/. Russian Energy Minister Alexander Novak discussed the oil price drop and the future prospects of investment projects with heads of oil and gas companies, the ministry reported on Friday.

According to preliminary estimates, the oil output in Russia will stay at the level of 2014, Novak said. In 2014, Russian oil output reached 527,000 million tons of oil, which is a 0.6% rise compared with the previous year, said the Central Dispatching Department of the Fuel and Energy Complex (CDU TEK), an agency that provides data and analysis to the Energy Ministry.

Representatives of the Russian Energy Ministry, as well as major Russian oil companies Rosneft, Surgutneftegas, Gazprom, Gazpromneft, Bashneft, Lukoil, Transneft and some others took part in the meeting.

"Last year despite all uncertainties and problems, we managed to solve the key issues and get decent production results. Today, we would like to get your idea of the situation in order to have a chance to take it into account when reviewing our own plans and working out key decisions both for 2015 and for long-term," Novak said.

Infographics Oil prices over 30 years Oil prices over 30 years
Year-average inflation-adjusted oil price. Infographics by TASS

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