Russia’s oil output hits post-Soviet high

Russia produced the highest amount of oil last year since its Soviet days according to new statistics released by its energy ministry yesterday. Oil output rose to 10.51 million barrels per day (bpd) in 2013, an increase of nearly 1.4% from 2012. The figures suggest Russia may yet keeps its place as the world’s largest […]

Saudi Arabia still world’s top petroleum producer

New analysis shows Saudi Arabia remained the world’s largest producer and exporter of petroleum last year. In 2012 the Middle Eastern nation produced an average of 11.6 million barrels per day (bbl/d) and exported around 8.6 million bbl/d in total, according to the US Energy Information Administration. Saudi Arabia has an estimated 268 billion barrels […]