Ministry of Economic Development increased the assessment of oil extraction to 530.5 mln tons in Russia in 2015 and decreased gas extraction forecast

The Ministry of Economic Development increased the assessment of oil extraction in Russia in 2015 to 530.5 mln tons having decreased the forecast of gas extortion to 626 bln cubic m, is said in the monitoring report for H1 2015. According to the corrected assessments, the volume of oil extraction in 2015 will be higher by 2.5 mln tons and gas extraction will fall by 4 bln cubic m. On the results of 2015 the volume of oil processing is expected to fall and make up 290 mln tons, that is by 1.5% less than in 2014. It is said in the monitoring that it is explained by the reduction of the domestic demand for oil products and more attractive oil export for the companies. The production of eatable goods and chemicals keeps positive rates and on the results of the year they will be likely to rise by 1.9% and 5.5%.