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Pages: | 1 | ... | 2 | 3 | 4 | 5 | 6 | ... | 39 | The dramatic fall in the world oil pricesfostered OPEC members to make a decision dated November 14, 2001, on anotherreduction in oil production output by 1,5mln. bbl. per day since January 1,2002. However, OPEC, being concerned with the decrease in its world oil marketshare, put the implementation of this decision as dependant on non- OPEC oilsuppliers for their readiness to total decrease in oil output by 500,000 bbl.per day. In this connection, Russia declared intentions to cut back oilsupplies to the world market by 150,000 bbl. per day starting from thebeginning of 2002 (in I Quarter 2002). Norway claimed a reduction in oil outputby 150,000 bbl. per day (in I Quarter 2002). Mexico promulgated decrease in oilexport by 100,000 bbl. per day (also in I Quarter 2002). Oman and Angola alsodeclared a cut back in oil output, albeit to a minor extent (by 40,000 bbl. perday in Oman, by 22,500 bbl. per day in Angola). At the end of December 2001, ameeting was held among OPEC members Ministries to confirm OPEC decision oncontracting oil production daily output by 1,500mln. bbl. within 6 monthsstarting from January 1, 2002. Thus, OPEC focused its effort on pricestabilization and short-term revenue provision, which is supposed to follow upwith further reduction in the world market share.
Fig. 7
International oil prices between 1996 to2001, USD/barrel
Source: International MonetaryFund.
High oil prices observed in the worldmarket in 2000 – themost part of 2001 created extremely favorable conditions for Russian oilsector. Significant increase in output, revenues and investments within oilindustry was a distinctive feature of 2000-2001. In 2001, total oil and gascondensate output reached the level of 348,1mln., i.e. grew up by 7,7 %relative to the previous year (in 2000, oil output growth rate was 6,0 %), Theproduction volume of primary oil refinery rose by 3,2 % (in 2000, by2,7 %).Motor petrol production increased by 0,6 %, diesel oil production grew by 2,0%, and fuel oil production rose by 4,2 %. Unlike 2000, oil production growthwas attained mostly by starting up new oil wells, i.e. resulted from theinvestments made in 2000-2001. Oil production carried out intemporarily shut-in wells that were set in operation in 2001 accounted for5,7mln. tn., or 23,5 % of total annual oil production growth (in 2000, oilproduction in temporarily shut-in wells set in operation provided for 68,3 % oftotal oil production growth). Shut-in wells share in operating well stock wentdown to 24,3 % at the end of 1999, 22,5 % at the end of 2000 and 21,5 % at theend of 2001. The investment activity kept growing: the volumes of productiondrilling and exploration drilling for oil rose respectively by 8,4 % and 15,6 %(in 2000, by 67,5 % and 27,8%), implementation of new oil wells increased by18,6 % (in 2000, by 53,7 %). These showings indicate a real boom period forinvestments in oil sector.
Quantitative and qualitativecharacteristics of oil refining also improved to a great extent resulting fromthe implementation of programs on oil refining capacitymodernization. Production capacities employed for primary oilrefinery in 2001 accounted for 6,5mln.tn. (in 2000 it was 0,35mln.). The levelof oil refining grew from 68,7 % in 1999 up to 71 % in 2000 – 2001. Mineral oil productionemploying well sinking technologies increased by 12 % in 2000 –2001. The share of lead-freemotor gasoline in total output went up from 89,3 % in 1999 to 95,4 % in 2000,and 97,9 % in 2001; high-octane gasoline output increased from 40,3 % to 41,2%, and 46,7 % respectively.
Table 7
Production, consumption, and export ofenergy resources in Russia, 1995-2001
Oil, mln.tn. | |||||||
Production | 306.8 | 301.3 | 305.6 | 303.4 | 305.0 | 323.2 | 348.1 |
Export,total | 122.3 | 126.0 | 126.9 | 137.1 | 134.5 | 144.5 | 160.4 |
Export to non-CIScountries | 96.2 | 105.4 | 109.8 | 117.9 | 115.7 | 127.6 | 137.8 |
Export toCIS | 26.1 | 20.6 | 17.1 | 19.2 | 18.8 | 16.9 | 22.6 |
net export | 113.8 | 117.2 | 119.0 | 129.2 | 128.5 | 138.7 | 155.4 |
Domesticconsumption | 150.4 | 131.3 | 132.2 | 125.1 | 120.5 | 123.0 | 124.0 |
Net export in % toproduction | 37.1 | 38.9 | 38.8 | 42.4 | 42.1 | 42.9 | 44.6 |
Table 7 (cont’d)
Oil products,mln.tn. | |||||||
Export,total | 47.0 | 57.0 | 60.6 | 53.8 | 56.9 | 61.9 | 69.0 |
Export to non CIScountries | 43.5 | 55.0 | 58.4 | 51.2 | 53.9 | 58.4 | 66.4 |
Export toCIS | 3.5 | 2.0 | 2.2 | 2.6 | 3.0 | 3.5 | 2.6 |
Net export | 42.6 | 54.4 | 56.6 | 51.0 | 50.3 | 61.5 | 68.7 |
Oil and oil products,mln.tn. | |||||||
Clear export of oil andoil products | 156.4 | 170.0 | 173.4 | 178.3 | 184.5 | 200.2 | 224.1 |
Net export of oil andoil products in % to oil production | 51.0 | 56.4 | 56.7 | 58.8 | 60.5 | 61.9 | 64.4 |
Natural gas,mln.tn. | |||||||
Production | 595.4 | 601.1 | 571.1 | 591.0 | 590.7 | 584.2 | 581.5 |
Export,total | 192.2 | 198.5 | 200.9 | 200.6 | 205.4 | 193.8 | 179.3 |
Export to non-CIScountries | 121.9 | 128.0 | 120.9 | 125.0 | 131.1 | 133.8 | 130.7 |
Export toCIS | 70.3 | 70.5 | 80.0 | 75.6 | 74.3 | 60.0 | 48.6 |
Net export | 188.3 | 193.9 | 196.4 | 197.6 | 201.3 | 189.7 | 175.3 |
Domesticconsumption | 407,1 | 407,2 | 374,7 | 393,4 | 389.4 | 394.5 | 406.2 |
Net export in % toproduction | 31.6 | 32.3 | 34.4 | 33.4 | 34.1 | 32.5 | 30.1 |
Totals | |||||||
Oil and gas production,mln.tn.. | 842.7 | 842.3 | 819.6 | 835.3 | 836.6 | 849.0 | 871.5 |
Net export of oil, oilproducts and gas, mln. tЕ. | 325.9 | 344.5 | 350.2 | 356.1 Pages: | 1 | ... | 2 | 3 | 4 | 5 | 6 | ... | 39 | Книги по разным темам
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