MOSCOW, October 16 (RIA Novosti) - Russia's oil production has grown 2.4% in the first eight months of 2006, year-on-year, to 318 million metric tons (2.34 billion bbl), the Federal State Statistic Service said Monday.
Domestic sales rose 5.6%, to 143.7 million tons (1.06 billion bbl), while exports fell 0.3%, to 167.1 million tons (1.23 billion bbl).
Oil exports in the reporting period accounted for 35.6% of Russia's total exports, and 52.7% of its energy exports.
High world oil prices have contributed to a record windfall for the Russian economy, which is one of the world's leading oil and gas producers. In 2003, the World Bank reported that Russia's energy sector comprised 25% of the country's GDP.
Russia's real income has grown 29% annually since 2001, largely due to rising world oil prices, and its revenue surplus has allowed it to pay off debts to foreign creditors ahead of schedule.
