Urals crude drops 0.6% y-o-y to $62.7/bbl for 8M07
( RIA Novosti ) - The average price of Urals blend crude was $62.7 per barrel for January-August 2007, a 0.6% decline year-on-year, the Russian economics ministry said Friday.
The Ministry of Economic Development and Trade said in its economic monitoring report that the average price was $69 per barrel in August, which is 0.4% higher that in August 2006 and 7.1% lower than in July 2007.
The average contract price of natural gas exports to Europe increased 10.3% year-on-year in January-August, slipping 0.1% in August against July and declining 4.3% against August 2006.
Russia's oil output, including gas condensate, increased 2.5% to 326 million metric tons in January-August, year-on-year.
Natural gas output fell 0.9%, year-on-year, to 429 billion cubic meters in the reporting period.
Gazprom's natural gas production stood at 362 billion cubic meters in the first eight months of 2007, down 0.4% against the same period last year. While the share of the state-controlled energy giant's subsidiaries for general gas output rose slightly from 83.9% to 84.4%.
Oil exports in the reporting period are estimated at 170.6 million metric tons, up 2.1% year-on-year, including 24.5% to the CIS, a 1% decline.
Natural gas exports in January-August dropped 12.6% to 119 billion cubic meters, including 26 billion cubic meters to the CIS, down 7.3%, year-on-year.