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2008 May 19   08:28

Russian oil exports down 3.3% to 61.6 mln tonnes in Q1 - Rosstat

Russian oil and gas condensate exports fell 3.3% year-on-year in January-March 2008 to 61.1 million tonnes, the Federal  State  Statistics  Service (Rosstat) said, quoting figures from the Federal Customs service that include oil exported to Belarus, Interfax reports.

March exports fell 8.5% year-on-year to 20.4 million tonnes. Oil  accounted  for  35.5%  of overall Russian exports in the three months,  up  from  33%  a  year previously. However oil fell to 50.9% of overall fuel and energy exports, from 51.5%.

Rosstat  said  Russia  exported 50.5% of the oil it produced in the three months and 49.7% of that produced in March.

The  average export price for oil in March was $662.7 per tonne, or 7.4% higher than in February 2008. Urals blend traded at $729.1 a tonne, which was 8.9% more than in February.

Russia produced 121 million tonnes of oil and gas condensate in the three months, down  0.2% year-on-year, including 41.1 million tonnes in March, down  2.7%  from  the same month in 2007. Russia-based refineries processed  59.5  million  tonnes  of  crude in the three months, up 5.8% year-on-year,  including  20.4  million  tonnes in March, an increase of 7.3%.

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