19 May 2011 20:01

Russian oil exports down 2.3% in 3 mths - Rosstat

MOSCOW. May 19 (Interfax) - Russian oil and gas condensate exports in January-March 2011 were down 2.3% from the same period of last year at 47.4 million tonnes, the Federal State Statistics Service (Rosstat) said, quoting figures from the Federal Customs Service (FCS).

Oil accounted for 34.7% of overall Russian exports in the three months, up from 34.0% in January-March 2010. Oil came to 49.4% of overall fuel and energy exports, up from 47.9% a year previously.

The average export price for oil in March 2011 was $729.8 per tonne, or 9.1% higher than in February 2011. Urals blend traded at $812 a tonne in the world market, 9.8% more.

Changes in average export prices for Russian crude and oil prices on the world market:

	Average actual export price		World market price for Urals blend
	$ per tonne	% of December the previous year	$ per tonne	% of December the previous year
2010
January	521,2	102,4	554,2	103,0
February	508,4	99,9	531,0	98,7
March	522,5	102,7	560,0	104,1
April	548,7	107,8	602,4	112,0
May	559,0	109,9	535,5	99,6
June	522,8	102,8	542,0	100,8
July	530,2	104,2	541,4	100,7
August	535,0	105,1	552,4	102,7
September	535,6	105,3	565,0	105,0
October	560,6	110,2	595,2	110,7
November	584,6	114,9	616,0	114,5
December	609,9	119,9	653,4	121,5
2011
January	654,0	107,2	685,0	104,8
February	669,1	109,7	739,8	113,2
March	729,8	119,7	812,1	124,3

Source: Russian Economic Development Ministry

Russia produced 125.2 million tonnes of oil and gas condensate in January-March 2011, up 0.8% year-on-year. Russia-based refineries processed 62.6 million tonnes of crude, up 2.8%.

Oil production (not including gas condensate) by Russia and the leading oil producing nations ('000 barrels per day):

	2011
	March	February	January
Russia *	10000	9104	10002
OPEC (total)**	29310	29937	30008
Of which: Iraq	2715	2652	2658
Saudi Arabia	8961	8904	8659

* - Not including gas condensate.

** - OPEC Market indicators as at end October 2010