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Production of oil on Russian continental shelf up 16% in 2015

December 24, 2015, 1:15 UTC+3 MOSCOW
The increase took place thanks to the growth of output on the shelf of the Sea of Oskhotsk, Pechora Sea and the Caspian Sea
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Russia’s Energy Minister Alexander Novak

Russia’s Energy Minister Alexander Novak

© Alexander Astafyev/Russian Government Press Service/TASS

MOSCOW, December 24. /TASS/. Production of crude oil on Russia's continental shelf went up 16% to 18.8 million tons in 2015, Energy Minister Alexander Novak told reporters

"Output of crude on the shelf went up to 18.8 mln tons this year from 16.2 million tons the previous year," he said.

The increase took place thanks to the growth of output on the shelf of the Sea of Oskhotsk, Pechora Sea and the Caspian Sea, he indicated.

Exports of oil from Russia

Early statistical data suggests exports of crude oil from Russia will go up 7.5% to 238 mln tons upon the end of 2015 versus 2014, Novak told reporters.

"We’re increasing exports of crude oil for the first time in six years," he said. "It will rise to 238 mln tons from 221.3 mln tons," he said. "Domestic refining will be smaller this year - it has decreased to 282 mln tons from 289 mln tons but the output of oil products is bigger thanks to the higher rates of refining.".

Production of natural gas

Production of natural gas is expected to go down 1.4% to 633 billion cubic meters (bcm), Energy Minister said.

"As for the gas industry, we expect a shrinkage of production by 8 bcm along with a simultaneous increase of exports by 9 bcm," he said. "This means consumption of gas on the domestic market will shrink by 17 bcm."

"Exports of gas upon the yearend will hopefully stand at 190 bln cbm and production, at 622 bcm," Novak indicated.

Exports of electric power

Exports of electric power from Russia almost redoubled in 2015, Alexander Novak told reporters.

The surplus of energy flows, or the difference between the flows of exported and imported electricity was likely to stand at 11 billion kWh.

Domestic consumption of electric power was down this year owing to an unusually warm winter.

The surplus of electricity flows totaled 5.7 bln kWh in 2014, with imports standing at 9.4 bln kWh versus 14.6 bln kWh registered in 2015. The relevant figures for exports were 15.1 bln kWh and 25.6 kWh.

Russia’s coal production

Russia’s coal production in 2015 will total, according to preliminary figures, some 373 million metric tons, while coal export will amount to 155 million metric tons, Novak told journalists.

"Speaking about the coal industry, we expect additional volumes," Novak said. "The increase in [coal] production will be at some 15 million metric tons as we had 358 million and will have 373 million (metric tons of coal)."

"The increase is still in progress despite the decline in prices," Novak added.

According to data from the Russian Energy Ministry, the coal production in 2014 stood at 358.2 million metric tons and its export hit the mark of 155 million metric tons.

Therefore, the production increased this year by 4.1%, while the export volume remained at the same level.

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