MOSCOW (Sputnik) — In the "Oil and Gas Extraction and Refining: Trends and Forecasts. January-June 2016 Results" bulletin, experts noted that in the first half of the year the Russian oil industry output reached 272.4 million tonnes (3.1 percent increase year-on-year) making a post-Soviet record. Most of the growth was provided by the Yamalo-Nenets and Nenets Autonomous Regions, Sakhalin region and Irkutsk region.
Experts believe that although the growth rate could diminish in the second half of the year, total oil production in 2016 will increase by some 6-7 million tonnes, or 1.5-1.6 percent year-on-year to a new record value of 539-540 million tonnes.
The Russian oil refining industry continues its production decline due to reductions in low-margin heavy petroleum products output. At the same time, gasoline production increased while oil refining efficiency reached record levels.
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