28 Oct 2010 19:58

Russia can keep its annual oil output at 500 mln tons - Putin

SAMARA. Oct 28 (Interfax) - Russia has every opportunity to maintain its annual oil output at around 500 million tons for decades ahead, Prime Minister Vladimir Putin announced Thursday.

"Thanks to newly-prospected reserves, the advancement to new grounds and more efficient exploitation of old oil fields, we can maintain our oil output at the current level of about 500 million tons a year for decades ahead," Putin said at a meeting devoted to the development of the Russian oil industry.