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
23 January 2026
A strategic pivot away from Russian crude in recent weeks tees up the possibility of improved US-India trade relations
23 January 2026
The signing of a deal with a TotalEnergies-led consortium to explore for gas in a block adjoining Israel’s maritime area may breathe new life into the country’s gas ambitions
22 January 2026
As Saudi Arabia pushes mining as a new pillar of its economy, Saudi Aramco is positioning itself at the intersection of hydrocarbons, minerals and industrial policy
22 January 2026
New long-term deal is latest addition to country’s rapidly evolving supply portfolio as it eyes role as regional gas hub
