Post-Soviet oil production record
Russia extracts oil as never before. August reached an all-time high production with a level unseen since the breakup of the Soviet Union.
In average, 10,38 million barrels of oil were extracted daily in August, according to the Ministry of Energy.
The high output is closely connected with the current high oil prices on the international market.
On the national day for the workers in the oil and gas industry celebrated on Sunday, Energy Minister Aleksandr Novak posted a statement hailing the workers for their importance in Russian economy.
“Oil and gas complex occupies a unique place in the economy of our country. In 2011, he brought in 49% of the federal budget revenues, 5,5 trillion roubles. The share of fuel and energy sector in the GDP was 30%,” Aleksandr Novak said.
The minister continued with stating that one of the top priorities for the industry now will be to produce products that meet global environmental standards. The statement comes a week after Greenpeace urged Russia’s state-owned oil major Rosneft to stop its offshore oil-drilling at Prirazlomnoye in the eastern part of the Barents Sea.
Simultaneously as Russia’s oil production reach a 22-year high, the natural gas production shrinks and is down 3,3 percent so far this year.