VOL. XLVII

No 02

12-January-2004

SUPPLY/DEMAND

Russian 2003 Production Put At 8.4Mn B/D, Exports Average 3.85Mn B/D

Russia produced 421.377mn tons, or 8.4mn b/d, of crude during 2003, an increase of 41.747mn tons (835,000 b/d) or 11% over 2002, according to the Interfax news agency. Quoting data from Russias Ministry of Energy, Interfax said on 5 January that natural gas production amounted to 616.45 BCM during the year, an increase of 21.15 BCM, or 3.6%. Furthermore, crude exports during 2003...