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Russia’s oil output to reach 527 mln tons in 2023, gas output - 642 bcm — Novak

"Today the gas industry is functioning stably - since the beginning of the year, 410 bln cubic meters of gas have already been produced," the minister said

TYUMEN, September 20. /TASS/. Russia plans to produce 527 mln tons of oil in 2023 compared to 535 mln tons in 2022, while gas production is projected at 642 bln cubic meters, according to Russia’s Deputy Prime Minister Alexander Novak.

"Last year, Russia produced 535 mln tons of oil, which is 2% more than in 2021, despite the imposed sanctions. This year we expect a slightly lower figure, due to our interaction within OPEC+ among other reasons, we expect 527 mln tons," Novak said, noting that redirecting oil supplies this year will continue to countries in the Asia-Pacific region, mainly to China and India.

"Today the gas industry is functioning stably - since the beginning of the year, 410 bln cubic meters of gas have already been produced. We plan that by the end of the year we will produce 642 bln cubic meters," he added.

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Alexander Novak

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