Novak talked about oil and gas production plans for 2023 in the Russian Federation 14:23

The fuel and energy complex of the Russian Federation will show stable results in 2023 and will produce 527 million tons of oil by the end of the year. This was announced by Deputy Prime Minister Alexander Novak at a meeting of the Economic Committee of the Federation Council. TASS.

According to Novak, oil production will not reach last year’s level of 535 million tons. Coal production will remain at approximately the 2022 level – 440 million tonnes. The Deputy Prime Minister stated that a decrease in gas is expected due to the interruption of supplies from Nord Stream.

Previously, analysts predicted that investments in new fields would be required to maintain the current level of oil production in Russia. Novak himself had previously announced the slight decrease in production in 2023 due to obligations under the OPEC + agreement.

Let us remind you that the Russian Federation operates on a voluntary basis. reduced Under this agreement, in addition to oil production, exports also increased by 300 thousand barrels from September to the end of 2023. It was later clarified that this decision did not affect obligations in OPEC+.

Previously Russia’s income from oil exports fallen because of sanctions.

Source: Gazeta


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