Decline in oil production in Russia and growth in gas production

Russia's gas production increased by 8% in the first four months of the year to 246.4 bcm, Russian President Vladimir Putin said.

Oil output was down 1.8% to 195.7 million tonnes last year, largely due to production cuts under OPEC+ agreements.

The meeting with Putin was attended by Deputy Prime Minister Alexander Novak, Russia's representative at the OPEC+ meetings, Energy Minister Sergei Tsvilev, Deputy Head of the Presidential Administration Maxim Oreshkin and the head of gas giant Gazprom, Alexei Miller, state media reported.

Miller was absent from Putin's delegation in Beijing last week. No new oil and gas deals were announced during the Russian head of state's visit to China.

"Despite the sanctions and significant instability in global and regional energy markets, the domestic fuel and energy complex is developing steadily and new areas for export are opening up," Putin said at the meeting.

"And what is extremely important and a priority for us is that it reliably and fully meets domestic needs. Russia's economy is growing, needs are increasing and are being met by the fuel-energy complex," he added. /BGNES