Russian oil production has grown by 1 million barrels per day (bpd) over the last decade to a post-Soviet record of 10.6 million bpd in 2014. In the next five years the factors that were behind this production surge will remain in place, regardless of oil prices, says Anna Belova, GlobalData's Upstream Analyst covering the Former Soviet Union. The Russian oil and gas industry is “relatively self-sufficient”, Belova adds. … [Read more...]
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