VOL. XLVII

No 06

9-February-2004

RUSSIA

BUDGETS AND REVENUES

Russias 2004 Budget Based On $22/B Urals Price But Minister Anticipates $26/B

The Russian 2004 budget is based on an average oil price for Urals crude of $22/B, but the Russian Government anticipates an average price for the year of around $26/B, according to Russian Deputy Prime Minister and Finance Minister Alexey Kudrin. Russias oil production averaged 8.4mn b/d in 2003, of which 3.76mn b/d were for export up 10% year on year, OPECNA...