Ministry expects Russia’s oil production at 555–565 mln tns in 2020

MOSCOW, Dec 27 (PRIME) – Russia will produce 555–565 million tonnes of oil in 2020, Energy Minister Alexander Novak told reporters on Friday.

“Our production will amount to 555–565 million tonnes judging by the plans of companies,” he said.

Under the ministry’s forecast, Russia’s oil production will rise by 0.7% to 560 million tonnes in 2019.

The ministry expects production of liquefied natural gas (LNG) to jump by 49.2% to 40.2 billion cubic meters in 2019, and grow to 100–120 million tonnes until 2035, Novak said.

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