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In 2009, Russia produced 12% of the world's oil and had a similar share of global oil exports. [4] Russia produced an average of 10.83 million barrels (1,722,000 m 3) of oil per day in December 2015. [5] In June 2006, Russian crude oil and condensate production reached the post-Soviet maximum of 9.7 million barrels (1,540,000 m 3) per day.
In early 2008 Russian officials were reported to be concerned because, after rising just 2% during 2007, oil production [5] started to decline again in 2008. The Russian government proposed tax cuts on oil in an attempt to stimulate production. [6] By 2011, Russian oil production had increased to 10.54 million barrels per day (1.676 × 10 ^ 6 m ...
The sanctions also targeted Russian oil firms Surgutneftegaz and Gazprom Neft. Surgutneftegaz's Kirishi oil refinery in Western Russia raised oil processing by almost 8% on Jan 1-21 from Dec. 1-27 ...
The French oil major has said it would no longer enter into or renew the existing contracts to buy Russian crude oil and petroleum products, with the aim of halting all purchases by the end of 2022.
PJSC Rosneft Oil Company (Russian: Роснефть, romanized: Rosneft', IPA: [ˌrosˈnʲeftʲ] stylized as ROSNEFT) is a Russian integrated energy company headquartered in Moscow. Rosneft specializes in the exploration, extraction , production, refining, transport , and sale of petroleum, natural gas, and petroleum products.
Russian oil trades at a discount to market prices because of the whole range of sanctions that make it harder to finance and process transactions involving Russian exports. Before the price cap ...
The Sakhalin-I (Russian: Сахалин-1) project, a sister project to Sakhalin-II, is a consortium for production of oil and gas on Sakhalin Island and immediately offshore. It operates three fields in the Okhotsk Sea : Chayvo, Odoptu, and Arkutun-Dagi.
The Hungarian oil group, which operates three refineries in Croatia, Hungary and Slovakia, continues to buy Russian crude via Druzhba pipeline, as well as refined products, a company source told ...