Russia is expected to reduce both oil and natural gas production this year, according to Deputy Prime Minister Alexander Novak on Tuesday.
Oil is projected to fall by 8 million tons to 527 million tons, compared to 535 million tons last year, he said.
Natural gas production is forecast to be slightly lower this year relative to last year, with a drop of 30 billion cubic meters. He explained that this fall is in part due to a terrorist attack in the first half of last year on the Nord Stream gas pipeline, which stopped gas flow to Europe. However, he said those losses would be partially offset due to an increase in deliveries to China through the Power of Siberia pipeline.
Nevertheless, Novak confirmed that coal production for this year would remain unchanged from last year at 440 million tons.
He also stated that electricity output would continue to rise steadily, increasing by 0.8% year over year to 1.15 trillion kilowatt-hours.
Reporting from Emre Gurkan Abay in Moscow
