17 Dec 2010 11:54

Energy Ministry raises 2010 oil production forecast to 504 mln tonnes

MOSCOW. Dec 17 (Interfax) - The Russian Energy Ministry has raised the oil production forecast for 2010 to 504 million tonnes, Deputy Energy Minister Yury Sentyurin said at an international energy forum.

Energy Minister Sergei Shmatko had previously said oil production this year would be about 500 million tonnes.

"Russia's daily production hit a 10-year high in October. We can now say that production in Russia will top 504 million tonnes," Sentyurin said.

The general scheme for development of oil production in Russia to 2020 has annual production fluctuating in the range 500 million-505 million tonnes.