
MOSCOW — Russia produced 270.3 million tons of oil and gas condensate from January through July this year, a 2.8 percent year-to-date increase, the central dispatch department of Russia’s energy ministry has said. Oil exports from Russia increased 8.3 percent in the first seven months of this year, reaching 138.3 million tons. Primary processing of oil at Russian oil refineries was up 6.3 percent, reaching 117.7 million tons.
Production of oil and gas condensate climbed 8.9 percent last year, to 458.8 million tons. The country’s oil output is expected to stand at 485 million tons this year, and exports are projected to reach 285.5 million tons. Last year, Russia’s oil exports stood at 182.164 million, up 17.3 percent on the previous year.
The Russian government raised the export duty on crude oil and oil products from bituminous materials to $140 a ton on August 1. Export duties on oil products were also revised upwards last week. The decree, signed by Prime Minister Mikhail Fradkov on July 26, comes into force 30 days after its official publication.
Export duty on benzol, toluol and xylole was set at $106.6 per ton, up from $104.1. The duty on lubricants and other oils was raised from $56 per to $57.4 per ton. For propane, butane, propylene, butylene and other liquified gases, export duty was set at $106.6 per ton, up from $104.1. Export duty on light and middle distillates and gasoils is also $106.6 per ton, $57.4 for liquid fuels.
Russia currently produces about 470 million tons of oil a year, of which it exports 230 million tons. If production doesn’t fall, the country’s oil reserves will suffice for another 35 to 40 years.