Russian oil exports to grow 200,000 tonnes in Q2 - Energy Ministry
MOSCOW. March 24 (Interfax) - Russian oil exports will grow by 200,000 tonnes in the second quarter of 2016, Deputy Energy Minister Kirill Molodtsov told reporters.
"The oil pumping schedule for the second quarter is ready. There, pumping will increase by 200,000 tonnes. All requests by companies have been granted," he said.
Oil refining volumes are projected to decline 3.5% in the first quarter, although gasoline output will remain on a par with last year, he said.
Although Russia and the majority of oil producing countries might freeze oil production at the January 2016 level, this would still allow Russia to increase production in 2016 compared with 2015. The Energy Ministry forecasts that oil production might rise 1%-2% this year to 540-544 million tonnes.