Middle East Economic Survey


No 3


Russian 2004 Crude/Condensate Production Exceeds 9Mn B/D

The Russian Energy Ministry on 11 January said that crude and condensate production during 2004 amounted to 458.808mn tons (9.18mn b/d) compared with 421.377mn tons (8.43mn b/d) in 2003. Despite the Yukos debacle, Russian production grew to rival that of Saudi Arabia, which produced 9.45mn b/d of crude in December 2004. The energy ministry reported that output peaked in September...