MOSCOW, March 22 (RIA Novosti) - Russia's oil production is expected to reach 495 million metric tons (9.9 mln bbl/d) in 2007, and 507 million tons (10.2 mln bbl/d) in 2009, an increase of 5% and 8%, respectively, against 2005, a Cabinet spokesman said Wednesday.
He said the figures were part of a draft microeconomic scenario of Russia's socio-economic development in 2007-2009 that was set to be discussed in a government meeting Thursday. The document also contains new tax proposals, including gasoline taxes based on quality and tax holidays for Eastern-Siberian deposits, alongside a tax-reduction mechanism for deposits in the final stage of development to complete projects by the earliest possible date.
The Federal Statistics Service said Russia's oil production in 2005 totaled 469.6 million tons (9.4 mln bbl/d), a figure that is expected to grow by 2-2.5% (to 479-481 mln tons or about 9.6 mln bbl/d) in 2006 according to Industry and Energy Minister Viktor Khristenko.
