Russia to stop publishing stats on oil, gas output until April 2024 - Tass
The Russia government has ordered that the publication of statistics on oil, gas and condensate production be suspended until April 1, 2024, Tass news agency said on Friday.
It did not give any details. Russia’s statistics agency Rosstat omitted monthly oil production data from its latest economic report published on Wednesday.
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“Russia to stop publishing stats on oil, gas output”
The worst of the effects on the Russian oil industry are about to start, with the production shutdowns. Long term damage, very difficult to restore - like a decade or more.
After the first 1.5 million bpd of production cut in the warmer Southern fields, any additional production shut off is likely gone for the long term, after the first Winter of not flowing.
They have already previously announced halting 500,000 bpd from the South, and it looks like the reality is already at least 750,000 bpd. Next months cuts will likely mark enduring reductions in Russian capacity.
There are still lots of variables, but a few million bpd of productive capacity (1-4) are potentially at risk by the end of the year.
Oil has always been at least double the size of natural gas revenues for Russia. It is their biggest single asset, by far.