Extreme Russian cold cuts oil output

Extreme cold across Russia has cut oil output and sparked warnings of power cuts, officials said, as record low temperatures shocked even hardy Russians. One small Moscow stock exchange suspended trading when the city's temperature fell to -20 degC (-4 degF). Russia's chief meteorologist said 2006 would be Moscow's coldest winter since 1979.

In the Western Siberian town of Surgut, in Russia's oil-producing heartland, temperatures have fluctuated between minus 30 and minus 51 degrees Celsius over the past week. Oil production from the region fell by 200,000 barrels per day between Jan 10-16 as the extreme cold meant oil had frozen some oil wells solid. "It is not as easy as one could think to restart an oil well even after the cold subsides. Sometimes you have to wait until May to fully restart a well," one industry analyst said.

(2006-01-19 11:09:41 SGT) [Energy] Permalink

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