Lithuania, Markets and Companies, Oil
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Sunday, 05.04.2026, 22:58
Oil extraction in Lithuania fell by almost 20 pct in 2013
BC, Vilnius, 19.08.2013.
Print version
Print versionAccording to the data provided by Lithuania's Geological Service, within the year, oil extraction in Lithuania decreased by almost 20 percent. The main reasons for decrease are depletion of the current oil sources and slow progress in oil exploration, reported LETA/ELTA.
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According to Minister of Environment Valentinas Mazuronis, it is natural that exploiting the same oilfield it is finally exhausted. "Therefore, we have to look for new, both traditional and non-traditional fields of hydrocarbon. It is also necessary to review the tax base so that the State would benefit from the extracted oil and that the extraction companies would not suffer as well," said Mazuronis.
In the first half of 2012, 5.353 million tonnes of oil were extracted, while in the first half of 2013, only 4,295 million tonnes of oil were extracted in Lithuania.
At present, there are three new oilfields have been explored in Lithuania. Though they are small, their extraction is economically viable.
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