The government has budgeted-2016 oil production at 533 million tonnes

The government has budgeted-2016 oil production at 533 million tonnes

It is planned that in 2015 the volume of oil produced will be higher than last year by 0.8% and gas production will decline by 2.2%.

MOSCOW, 24 Oct. The Russian government has pledged in the Federal budget for 2016 indicators of oil production at the level of 533 million tonnes and gas production within 635 billion cubic meters, according to the text of the budget bill published in the database of bills in the Duma.

The volume of produced oil in 2015 is projected to be 531 million tons, which is higher than the index of 2014 by 0.8% and natural gas at the level of 626 billion cubic metres (down 2.2 percent).

Oil exports in 2016 are forecast at the level of 233,5 million tons, gas reserves — 175 billion cubic meters, oil at 173 million tons. In 2015 it is planned to be exported 237 million tonnes of oil and 170 billion cubic meters of natural gas and 175 million tons of petroleum products.

At the beginning of October was published the forecast of social and economic development, according to which in 2016 oil production in Russia will drop to 528 million tons, compared with 530,1 million in 2015. Oil exports from Russia in 2015 is expected to reach a level 237,3 million tons, and in 2016 — at the level of 228,5 million.

Later, the Minister of economic development Alexei Ulyukayev has raised its forecast of oil production in Russia by 2016 from 528 million to 533 million tons.