Russia reports 2.7pct hike in oil output by Jan-Apr


(MENAFN) Russian oil extraction touched a total of 179.75 million tons in the first four months of 2016, a climb of 2.7 percent compared to the same period last year.

The country's crude outbound shipments stood at 77.29 million tons in the cited period, an increase of 6.1 percent compared with the corresponding timeframe over the prior year.

Meantime, natural gas extraction plunged by 0.6 percent to 219.5 billion cubic meters, and electricity generation grew by 0.1 percent to 378.9 billion kilowatt-hour.

Russia has frequently been described in the media as an energy superpower; hence the country has the world's largest natural gas reserves and the 8th largest oil reserves.


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