MOSCOW, February 20 In 2023, Russia increased the share of oil exports to friendly countries to 86%, oil products — to 84%, follows from the presentation of the Deputy Prime Minister of the Russian Federation Alexander Novak, presented by him at Energy Day as part of the exhibition-forum «Russia».
«After the introduction of sanctions, the volume of exports of oil and petroleum products was reoriented to new markets,» the presentation says.
According to the data presented, the share of oil exports from the Russian Federation to friendly countries in 2021 was 40%, and in 2023 it increased to 86%. The share of these countries in Russian exports of petroleum products increased from 30% in 2021 to 84% in 2023.
The presentation also states that “a significant increase in oil production over the past 20-25 years was achieved thanks to government support measures.”
In particular, due to support for the development of shelf fields in the Okhotsk, Pechora and Baltic seas, production on the Russian shelf in 2023 increased to 24 million tons from 1.7 million in 2003. And production in Eastern Siberia, due to support for field development, has grown over 20 years from 0.5 million tons to 54 million tons per year.
In addition, it is noted that annual investments in the oil industry amount to about 2 trillion rubles.