Gazprom gas production declines

Russian government data show domestic natural gas production and exports increased during the first 10 months of the year, though output from Gazprom slumped.

Russia's government said natural gas production increased 2.1 percent through October. The largest producer, Gazprom, posted a 1.3 trillion cubic feet decline year-on-year to 124.3 trillion cubic feet for the period.

Oil company Rosneft, Russian independent gas producer Novatek and the financial arm of Russian natural gas Gazprom were included on the list of sanctioned entities by the U.S. government in July. Sanctions were imposed in response to the crises that grew out of Ukraine's November move closer to the European Union.

For Novatek, gas production for the first 10 months of the year was up 9 percent to 184 trillion cubic feet, data released Sunday show.

Exports of crude oil, petroleum products and natural gas account for nearly 70 of all Russian export revenues in 2013.

A report from the World Bank finds Russia's export-based economy leaves it vulnerable to geopolitical crises.