"The oil export from Russia depends both on the output and consumption of oil on the domestic market. According to the forecasts, up-till 2010 the growth rates of oil output in Russia will be substantially higher than the growth rates of oil refinement for the domestic needs. As a result, the export of oil from Russia will keep growing till 2010, and then oil export will remain at a stable level," Mr. Khristenko said. He noted that the world output of oil increased by 7.1% in 2000-2004.
Developing countries currently account for more than 70% of the growth of oil consumption in the world. On the whole, the consumption of oil in the world has grown by 7.5% since 2000. "This means that the growth of oil output in the world was lower than the growth of oil consumption," the Minister concluded.
He forecast that the output of oil in Russia, with the average price of Russian oil on the world market being $20-35 per barrel, can reach 550-590 million tons a year by 2020.
This will become possible first of all due to the development of new deposits, the Minister noted.
"Due to the high oil prices on the world market, the growth of output has exceeded the forecast laid down in Russia's Energy Strategy. In the new conditions, the forecast of the growth of oil output in Russia may be changed," Mr. Khristenko went on to say.
More than 3,000 deposits of hydrocarbon raw materials have been discovered and prospected in Russia by the moment, with only half of them having been developed, the Minister noted.
"In the main, these resources are on land, more than half of Russian oil extraction and more than 90% of gas output are concentrated in the Ural area and Western Siberia," Mr. Khristenko said.
He noted that the situation with Yukos has not led to lower investment activity of foreign companies in Russia.
The Minister stressed that the fears that Yukos will stop extracting oil have proved to be groundless, too. He added that, according to the current statistics, Yukos is the leader in oil extraction.
"Furthermore, I am dead sure that even if the owner of the company changes, this fact itself will not influence the operation of the respective units and enterprises," Mr. Khristenko said.
