Till 2030 oil production in Russia could increase up to 600-800 million tons
Till 2030 oil production in Russia could increase up to 600-800 million tons, Russian Deputy Minister of Natural Resources Denis Khramov said.
He said three main reserve resources will be used for this purpose: extending “life” of oil fields at the expense of raising oil production coefficient (mainly fields on the west of Siberia), offshore production and development of untraditional resources.
According to Russian Energy Ministry, oil and gas condensate production in Russia increased by 1.3% against 2011 up to 517,973,000 tons, reported http://oilru.com.--0--
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- Economics
- 24 October 2013 12:45
Economics
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Azerbaijan's financial standing continues to strengthen as the country's foreign currency reserves have surged to $71 billion as of January 1, 2025, according to the Ministry of Finance. This figure, which includes reserves held by the State Oil Fund of Azerbaijan (SOFAZ) and the Central Bank of Azerbaijan (CBA), far exceeds the nation's external debt, which stands at a fraction of its reserves, specifically nearly 14 times less. This robust reserve position reflects Azerbaijan's fiscal stability and the government’s strategic economic management.
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According to operational data from the Ministry of Energy of Azerbaijan, in January 2025, the country produced 2.3 million tons of oil, including condensate, and 3.9 billion cubic meters of gas.
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The State Oil Company of Azerbaijan (SOCAR) has opened a representative office in Albania and is set to launch a specific project this year, the Albanian company "Albgaz" announced.
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"Azerbaijan is currently among 54 middle-income countries," said Shahmar Movsumov, head of the Economic Affairs and Innovative Development Policy Department of the Presidential Administration, during the presentation of the World Bank’s World Development Report 2024 in Baku on February 10.
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