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Less Russian oil, gas

The production of oil and gas in Russia declined respectively 1,1 percent and 15 percent in the first quarter of 2009.

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Oil exports in the period increased 4,2 percent year on year. Rosneft had the biggest production with 27,8 million tons ahead of Lukoil (22,8 million tons). Oil analyst Svetlana Grizan says to Vedomosti that oil production is expected to pick pace in the second half of the year with Rosneft then opening the Vankor field. Gas producer Gazprom in the period produced 123,4 billion tons, while independent producer Novatec had a production of 8,2 billion cubic meters. Together, that is a decrease of 15 percent.