Russian Deputy Prime Minister Alexander Novak revealed in his presentation at the Day of Energy within the framework of the exhibition forum "Russia" that the country's investments in the oil industry amount to about 2 trillion rubles (around $21.6 billion) annually.
"After the introduction of sanctions, the volume of oil and oil products exports was reoriented to new markets," he noted, adding that Russia increased the share of oil exports and oil products to friendly countries to 86% and 84% respectively in 2023.
In another statement, Nikolay Shulginov, head of Russia's Energy Ministry, said Russia's preliminary oil and gas production target for 2024 is 523 million tons of oil and 667 billion cubic meters of gas.
