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Russia's crude oil exports fell by an estimated 5.3%, year-on-year,
Russia's crude oil exports fell by an estimated 5.3%, year-on-year, in January-May 2008 to 103.3 million metric tons (757 million barrels), the Economic Development Ministry said Monday on its web site.

The decline was due to lower crude output and increased supplies to domestic refiners, the ministry said.

Russia's oil exports to the Commonwealth of Independent States (CIS), a loose association of former Soviet republics except the Baltic States, grew 2.6% in January-May 2008 compared with the same period last year to 15.5 million metric tons (114 million barrels), the ministry said. Increased supplies to Belarus more than compensated for reduced deliveries to Ukraine and Kazakhstan.

Exports to non-CIS countries fell 6.6% in the reporting period to 87.8 million metric tons (643 million barrels), the ministry said.

Exhausted and watered oil wells, delays in the commissioning of new deposits and reduced incentives for oil companies to boost crude production due to the heavy tax burden resulting from high world oil prices were the main factors behind decreased production, the ministry said.

Meanwhile, Russia's gas exports grew 17.8%, year-on-year, in January-May 2008 to 92.4 billion cubic meters.

Gas exports to CIS countries declined 9.6% to 16.9 billion cu m while exports to countries outside the CIS grew 26.5% to 75.5 billion cu m, the ministry said.

Russia's gas production totaled 289 billion cu m in January-May 2008, which was 1.5% more than in the same period last year, the ministry said.


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