Urals crude rises 6% y-o-y to $65.6 / bbl for 10M07

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MOSCOW, November 27 (RIA Novosti) - The average price of Urals blend crude was $65.6 per barrel for January-October 2007, a 6% rise year-on-year, the Russian economics ministry said on Tuesday.

The Ministry of Economic Development and Trade said in its economic monitoring report that the average price was $79.6 per barrel in October, which is 44.5% higher that in October 2006 and 7.9% higher than in September 2007.

The average contract price of natural gas exports to Europe increased 7.4% year-on-year in January-October, edging up 0.7% in October against September and declining 3.4% against October 2006.

Russia's oil output, including gas condensate, increased 2.4% to 409 million metric tons in January-October, year-on-year.

Natural gas output fell 1.3%, year-on-year, to 532 billion cubic meters in the reporting period.

Gazprom's natural gas production declined 1.5% against the same period last year. The share of the state-controlled energy giant's subsidiaries for general gas output slightly shrank from 84.1% to 83.9%.

Oil exports in the reporting period are estimated at 214 million metric tons, up 2.9% year-on-year, including 30.8 million tons to the CIS, a 0.9% decline.

Natural gas exports in January-October dropped 10% to 148.2 billion cubic meters, including 30.7 billion cubic meters to the CIS, down 11%, year-on-year.

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