Russian energy minister says oil, gas production to decline in 2023

Business & Economy March 15, 2023, 14:23

Russia’s coal exports slipped by 1% in 2022 to 221.2 mln tons, according to the ministry

MOSCOW, March 15. /TASS/. Russia’s Energy Ministry expects the country’s production of oil and gas to decline in 2023, including due to external pressure, Minister Nikolay Shulginov said addressing the State Duma (lower house) on Wednesday.

"We expect the level of oil [production] to be slightly lower in 2023, including due to the voluntary output decrease. The level of gas production will continue falling, both due to the European market’s abandoning it, as well as redirected energy flows," he explained.

Russia’s coal exports slipped by 1% in 2022 to 221.2 mln tons, according to the ministry. Crude exports rose by 7.6% last year to 242.2 mln tons. Electricity consumption added 1.5% to 1.124 trillion kW per hour.

Last year’s crude output went up by 2% to 535.1 mln tons, while coal production edged up by 0.3% to 443.6 mln tons. Electricity production increased by 0.7% to 1.139 trillion kW per hour.

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