This year oil production in Russia will total 517 million tons, according to the preliminary information, Mikhail Gryaznov, chief of the Ministry of Energy’s Department, said at the conference Russian Oil and Gas Industry.
He said the production growth has been ensured at the expense of growth of investments into the field and a successful implementation of the mechanism 60-66 has allowed satisfying the growing demand in fuel.
It has been earlier reported that the Ministry of Energy planned the oil production at 515 million tons, reported http://itar-tass.com.--0--
Economics
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Azerbaijan’s ADY Express, a subsidiary of Azerbaijan Railways CJSC, signed several strategic agreements on the sidelines of the Logitrans Türkiye 2024 exhibition in Istanbul, Turkey, reinforcing its commitment to expanding freight transport services along the Middle Corridor.
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Azerbaijan plans to establish state-of-the-art battery storage facilities for green energy with a total capacity of 350 MW within the next 4-5 years, a well-informed source in the Ministry of Energy told Turan.
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Shareholders of the Caspian gas condensate "Absheron" project plan to approve the Front End Engineering Design (FEED) in December, laying the groundwork for full-scale development of the field, an informed source told Turan.
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In 2024, Europe will receive approximately 12.5 billion cubic meters of gas from Azerbaijan, with the list of buyers expanding to 12 countries. Speaking at an energy forum in Istanbul on Friday, SOCAR President Rovshan Najaf announced that cooperation with a 12th, new gas buyer would begin in December.
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