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Russia may produce 700 mln t of oil, export 300 bcm of gas to China

Reuters - UK Focus

VLADIVOSTOK, Russia, Sept 4 (Reuters) - Russia can increase its oil production to as much as 700 million tonnes of oil per year (14 million barrels of oil per day) and export 300 billion cubic metres of gas to China annually, Rosneft Chief Executive Igor Sechin said on Friday.

Speaking at the Eastern Economic Forum, Sechin added that production costs for Russia's largest oil fields were lower than for its global peers.

A weak rouble is offsetting low oil prices for Russian oil producers.

(Reporting by Katya Golubkova; Editing by Richard Pullin)