July 10, 2013

Russia has established a 25-year-old record for oil production. According to Federal State Unitary Enterprise “Central Dispatching Department of Fuel Energy Complex” (CDU TEK), an acknowledged leader in a field of informative forwarding of the Russian Federation fuel and energy complex activity, by the end of June, oil production in Russia amounted 10.53 million barrels per day, a record since 1988. Thus, Russia has overtaken the oil production capacity of Saudi Arabia, which extracts 9.47 million barrels per day. According to CDU TEK, thanks to two factors the record was available. First, the "Rosneft" managed to increase production at Vankorskoe deposit in the Krasnoyarsk Territory. In addition, “Gazprom” increased its oil production capacity.

Last year in Russia on average extracted 10.37 million barrels per day. In 1988, oil  production in the USSR amounted to 11.07 million barrels per day. Hereupon those rate began to fall. By 1996, it reached 6.06 million barrels. Since the mid-1990s, oil production in Russia began to grow again, but since the mid-2000s, the growth rate slowed down strongly. 

Oil, gas and gas condensate are main commodities of Russia. Hydrocarbons account for nearly 80 percent of the country's exports.

http://lenta.ru/news/2013/07/09/oil/