VOL. XLV

No 12

25-March-2002

SUPPLY/DEMAND

IEA Charts Russias Plans For Oil Industry Expansion

Russias energy strategy to 2020 projects crude oil output(excluding NGLs) rising to 335mn tons (6.73mn b/d) in2010 and 360mn tons (7.23mn b/d) in 2020, from a level of 323mn tons (6.49mnb/d) in 2000, according to the International Energy Agency (IEA). In its Russia Energy Survey 2002,published on 6 March, the IEA says that Russian energy strategy estimates thatinvestments of $40-50bn will be needed to...