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Oil output in Russia up by 2% to 535 mln tonnes, exports grew by 7% in 2022 - Deputy PM

16 January 2023 12:56 (UTC +04:00)

Russia's oil production increased by 2% to 535 million of tones in 2022, while exports grew by 7%, Russian Deputy Prime Minister Alexander Novak said on Monday, APA reports citing Sputniknews.

"Oil production last year amounted to 535 million tonnes. This is 10 million tonnes higher than in 2021, or plus 2%. Exports also grew — by 7%," Novak told on a government meeting.

The coal industry also saw an upward trend despite the embargo on supplies to Europe, with domestic coal companies having ensured an 0.3% increase in production. The volume of production amounted to 442 million tonnes, the official said.

Additionally, LNG production in Russia increased by 8% to 46 billion cubic meters last year, while gasoline and diesel fuel production in Russia was up by 4.3% and 6%, respectively, Novak noted.

Russian budget revenues from the oil and gas industry grew in 2022 by 28%, or by 2.5 trillion rubles ($36.7 billion), Novak added.

"Budget revenues from the oil and gas industry grew last year by 28%, or by 2.5 trillion rubles," he stated.