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Energy Ministry expects decline in Russia’s oil and gas output in 2023

In terms of coal, the Ministry of Energy predicts that the production level of 2022 will be maintained in 2023, which restored the high pre-pandemic figures of 2019

MOSCOW, March 28. /TASS/. The Russian Ministry of Energy expects a decrease in oil and gas production in Russia in 2023 due to the voluntary reduction in oil output and Europe refusing Russian gas, Russian Energy Minister Nikolay Shulginov said on Tuesday.

"We anticipate that oil production will be slightly lower in 2023 as a result of voluntary production cuts aimed at stabilization. The level of gas production for the year may also be lower due to European consumers' refusal of our gas and our inability to immediately reorient gas flows - you need to build new infrastructure for this," he said.

In terms of coal, the Ministry of Energy predicts that the production level of 2022 will be maintained in 2023, which restored the high pre-pandemic figures of 2019.

According to the ministry, Russia’s coal exports in 2022 fell by 1% to 221.2 mln metric tons. Oil exports in 2022 increased by 7.6% to 242.2 mln metric tons. Oil production by Russia in 2022 increased by 2% to 535.1 mln metric tons, coal - by 0.3% to 443.6 mln metric tons.

Russia in 2022 reduced gas exports by 30.7% to 170.6 bln cubic meters. Gas production in Russia in 2022 decreased by 11.7% to 673.8 bln cubic meters.

Russian Economy Ministry expects trade balance surplus to decline

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Russian Economy Ministry expects trade balance surplus to decline

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Ukraine’s army leaves first defensive line in Berdychi near Avdeyevka, says DPR

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Over 3,100 foreign mercenaries fight for Ukraine, most of them from US

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Russia's response to seizure of frozen assets in US to have no timeframe — chief delegate

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Russia vetoes US-backed UNSC resolution on banning nuclear weapons in outer space

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