Novak updates on 2016 expectations

摘要

Russian crude and condensate output is expected to hit a post-Soviet era record high of 547.5mn t (10.92mn b/d) this year, up by 2.5pc from 2015, according to energy minister Alexander Novak. Novak cites greenfield projects in east Siberia, along with offshore and hardto-recover onshore projects, as the drivers of production growth. Crude and condensate exports are expected to rise by 4.8pc to 253.5mn t.