Russia's oil production in Jan up 1.9%, exports 6.5%

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MOSCOW, March 21 (RIA Novosti) - Oil production in Russia in January 2006 increased by 1.9% year on year totaling 39.9 million metric tons, the Federal State Statistics Service said Tuesday.

It also said oil exports in the same period increased by 6.5% to 19.1 million tons.

However, oil production and exports fell by 2.1% and 14%, respectively, month on month.

Oil sales on the domestic market stood at 18.2 million tons in January, a 4.8% year-on-year growth and a 0.1% month-on-month growth.

Oil accounted for 34.9% of Russia's exports in January 2006 (29.9% in January 2005) and for 48.9% of Russia's fuel and energy exports (47.2%).

The average export oil price in January was $374.7 per metric ton (a 6.4% month-on-month decrease), while the Urals price stood at $434.3 (a 10.2% growth).

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