Russia says its 2012 oil output hit a post-Soviet record high while natural gas production...

|By:, SA News Editor

Russia says its 2012 oil output hit a post-Soviet record high while natural gas production declined amid stalling European sales. The mixed figures, highlighted by a dip in oil exports outside ex-Soviet territories, point to lingering problems in a sector that accounted for 49% of all budget revenues in 2011.