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    Oil production up 2.7% in first six months, 50% of oil exported

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    MOSCOW, August 18 (RIA Novosti) - Oil production in Russia rose 2.7% in the first six months of 2005 compared to last year's figures, with oil exports totaling 54.3%, the Federal Statistics Service reported.

    A total of 99.8 million metric tons of oil were sold on the domestic market and 124.9 million tons were exported.

    In June, Russia increased oil production by 1.3% compared to last year's indicator. In June 17.1 million tons were sold inside the country and 20.7 million tons were sold overseas, with exports totaling 53.9%.

    The statistics service said oil exports comprised 33% of Russia's total exports and 53.4% of its fuel and energy exports. A year ago, these figures were 30.9% and 54.1% respectively.

    The statistics service also said about $32.5 billion of oil revenues had been transferred to foreign currency accounts of companies in the year's first half, which is 28.7% more than the amount transferred during the same period in 2004. Current foreign currency accounts, in particular, received $27 billion (a 79.2% growth).

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