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Russia’s oil exports may amount to about 270 mln tonnes in 2017

November 16, 2016, 18:27 UTC+3 MOSCOW

The deputy energy minister also said on Wednesday, that since the beginning of the year, oil production in Russia has grown by 2.3%

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© Yuri Smityuk/TASS

MOSCOW, November 16. /TASS/. Oil exports from Russia may amount to about 270 mln tonnes in 2017, in case the current volume of refining is maintained, Deputy Energy Minister Kirill Molodtsov told reporters.

"We have a possibility to optimize the processing volumes - in theory, plus-minus 270 mln tonnes, respectively, the remaining amount is the export volume. If we produce more than 540 million tonnes, so you can count it," Molodtsov said.

Molodtsov said that no deficit in refining is expected.

"Our goal of processing is first of all to satisfy domestic demand. Deficit is not expected," the Deputy Minister said.

Earlier it was reported that in January-October 2016 Russia increased oil exports by 4.6% year-on-year to 211.11 mln tonnes. In particular, in October exports amounted to 21.656 mln tonnes (an increase of 0.1% year-on-year).

The deputy energy minister also said on Wednesday, that since the beginning of the year, oil production in Russia has grown by 2.3%.

"The current oil production gain in comparison with the previous year is 2.3% as of November 15, (10.7 mln tonnes)," he said.

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