The recently released International Energy Agency (IEA) forecast of Russia’s crude production is “unjustifiably optimistic”, says US based energy consultants ESAI. The IEA projected Russia’s 2005 crude production to average 9.64 million b/d, implying annual growth of 420,000 b/d relative to 2004. ESAI, however, sees incremental crude output in 2005 growing by a maximum of…

This article is for Subscriber members only.
Log In Register