Kukes added that he does not think crude oil prices will go down below the 25-dollars-per-barrel level in the foreseeable future. "Taking into consideration all these factors, Russia is going to become a stronger and stronger player in the world energy market," he said.
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Russia to Stand at #1
Yukos head discusses future of Russian oil...
Russia will occupy the first place in world oil production surpassing Saudi Arabia by 2009, the Yukos chairman of the board, Semen Kukes, told a news conference at the Council of Foreign Relations in New York.
"In 2003, the production of crude oil in Russia went up 11 per cent. In 2004, it will grow by another 9 per cent to reach 9 million b/d. By 2009 Russia will reach the production level of 10.5m-11m barrels per day, with the proved reserves growing by 30 per cent," Kukes said.
Kukes added that he does not think crude oil prices will go down below the 25-dollars-per-barrel level in the foreseeable future. "Taking into consideration all these factors, Russia is going to become a stronger and stronger player in the world energy market," he said.
Kukes added that he does not think crude oil prices will go down below the 25-dollars-per-barrel level in the foreseeable future. "Taking into consideration all these factors, Russia is going to become a stronger and stronger player in the world energy market," he said.
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