Russian oil hits another peak
The country’s 2019 production reached a further post-Soviet high, marking another year Moscow fell short of cuts promised to its Opec partners
Russia’s oil and gas condensate output totalled 560.2mn t in January-December 2019, or 11.25mn bl/d, according to data from the country’s energy ministry data, up from 555.8mn t (11.16mn bl/d) in 2018. December production totalled 47.63mn t (11.26mn bl/d), a 3.4pc month-on-month increase month, but a 1.7pc decline year-on-year. Growth came largely on the back of increased contributions from a number of greenfield projects operated by national oil champion Rosneft, says Vasilii Tanurkov, director at Moscow-based ratings group Acra. These included the Yurubcheno-Tokhomskoye, Srednebotuobinskoye, Kuyumbinskoye and Taas-Yuryakh fields in eastern Siberia and Kondinskoye, Russkoye, and East-Messoy
Also in this section
11 August 2025
The administration is pushing for deregulation and streamline permitting for natural gas, while tightening requirements and stripping away subsidies from renewables
8 August 2025
The producers’ group missed its output increase target for the month and may soon face a critical test of its strategy
7 August 2025
The quick, unified and decisive strategy to return all the barrels from the hefty tranche of cuts from the eight producers involved in voluntary curbs signals a shift and sets the tone for the path ahead
7 August 2025
Without US backing, the EU’s newest sanctions package against Russia—though not painless—is unlikely to have a significant impact on the country’s oil and gas revenues or its broader economy
