Oil production in Russia broke the record for a quarter of a century

Russia has achieved incredible results with similar success 25 years ago, producing oil 10.53 million barrels.

In 1988, oil production amounted to 11,070 million barrels a day, a few years later, to be exact after 8 years of extraction of oil fell to the low of 6.06 million barrels. In the past year, the taking of oil averaged 10.37 million barrels per day.

An employee of the company expressed its view that the most productive and flawless performance of the industry needs a stable and sustainable position for long-term investment.

The President Igor Sechin ("Rosneft") acquired after TNK-BP's put it that oil companies in 2013 will grow to about 215 million tons of oil. A representative of "Gazprom oil" reported that this year the company plans to produce 62 million tonnes of oil equivalent. Also, Vladimir Bogdanov (General Director of "Surgut") put it, that in the next few years, the company plans to produce oil at a rate of 60-62 million tonnes per year.

In turn Alekperov CEO «Lukoil» said in an interview that this year the company expects production growth of 1 percent per year.

The analyst Andrey Polishchuk said that "Rosneft" is not just increases the amount of initiative on oil production as the company recently entered into a very large number of important contracts for the supply of raw materials. From July 2013 to 2016, "Rosneft" is required to supply PKN Orlen 8,6 million tons per year, and in 2014 - 365 million Chinese CNPC for 25 years.

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