No 47



Russian Oil Output Seen Reaching 7.7MnB/D By 2005,

Russian oil production is expectedto rise from 6.92mn b/d in 2001 to 7.7mn b/d by 2005 and 8mn b/d by 2010, ifnot sooner, according to a recent report published by Credit Suisse FirstBoston (CSFB) entitled The Russian Oil Industry: The Bear is Back. CSFB saysthe Russian oil industry has undergone extensive changes in the last two years due primarily to the devaluation of the ruble in 1998 - and...