Saturday , October 20 2018
Home / economy / Russian oil production peak will be in 2021

Russian oil production peak will be in 2021

Russian oil production, if not we will take measures to encourage, will reach its peak in 2021 – 570 million tons. This was stated by Minister of energy of Russia Alexander Novak. According to him, in 2018 oil production in Russia is expected to reach 553 million tons.

“In 2018 we expect approximately 553 million tons of production. At the peak we will leave in 2021 is 570 million tons, after which it can begin a gradual decline and by 2035 we can cut production to 310 million tons,” — said the Russian Minister at the meeting of the government on stimulation of production of “black gold” in the country.

As noted by Novak, in the baseline scenario in Western Siberia is expected to decline oil production from 330 million to 180 million tons.

See also:  The U.S. economy predicted a recession lasting a year

“If there is no “green fields” — and they have also to date is limited because, in fact, already such fields are no more, which could be developed, in this case, the decrease will amount to 146 million tons,” — said Novak.

Meanwhile, Russian Deputy Prime Minister Dmitry Kozak after a meeting said that threats to Russian oil production in the period from 2019 to 2020 no.

“In 2019, 2020 and until there is no danger of decline in production there,” he said, adding that at the meeting of the government on stimulation of oil production the forecasts for Russia in terms of production was not discussed.

See also:  Economists called the middle income Russian families

“No, they’re not even discussed, we have forecast”, — said Russian Deputy Prime Minister.

The updated forecast of the Ministry of economic development (MED) suggests that Russian oil production this year will reach 549 million tonnes in 2019 — 557 million tonnes. It is expected that the production of “black gold” in Russia in the period 2020-2021 years will increase to 562 million tons is going to be a peak. Further, as expected, start reducing production to 560 million tonnes in 2022, at 2023, to 558 million in 2024, up to 557 million tons.

© 2018, All rights reserved

Check Also

Secrets of the Russian budget. Secret the cost will increase to 3 trillion rubles

Secret spending next year will grow by 7.6% in absolute value year-on-year to 3 trillion …

Leave a Reply

Your email address will not be published. Required fields are marked *