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Deputy PM expects Russian oil exports to grow by 7.5% in 2022

Alexander Novak stated earlier that Russian oil exports continued steadily as companies had reconsidered logistics schemes and made agreements on payments

MOSCOW, December 26. /TASS/. Russian oil exports will grow by 7.5% to 242 mln metric tons in 2022, Deputy Prime Minister Alexander Novak said in an interview with TASS.

"According to preliminary data from the Energy Ministry, despite the pressure that the industry is facing, we will increase oil output by 2% this year compared to 2021, to 535 mln metric tons. Oil exports will grow by 7.5% to 242 mln metric tons," Novak said.

According to him, primary oil refining will drop by 2.9% to 272 mln metric tons. "However, motor gasoline production will rise by 4.2% to 42.5 mln metric tons and diesel fuel output will grow by 5.9% to 85 mln metric tons. That said, we will have more high-quality products even despite a decline in oil refining," the deputy prime minister noted.

Novak stated earlier that Russian oil exports continued steadily as companies had reconsidered logistics schemes and made agreements on payments. The deputy prime minister added that Russian exports were being redirected to the Asia-Pacific region, Africa and Latin America.

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