Oil-importing countries would see their import bills rise by the same amount.

approximately NOK 4 billion was due to the increase in oil production.

The bill for oil alone is now more than euro 50 billion.

Most oil revenues come right back to the West, one way or another.

¨ Are some countries already undergoing the first negative effects of an economic peak oil, through their oil bill?

Those countries benefit from lower oil import prices, improvements in their business environments, and strong infrastructure investment.

A law introduced this year allows 10% of biofuel to be mixed with petrol, thus reducing the fuel bill and pollution levels in a single stroke.

Sechin also that the two sides had resolved their differences over China’s debts for Russian oil exports.

At current prices (2005) of 400 euros per m3, the oil bill for Cimerwa is about 5 million euros a year.

Sechin said the two sides had nonetheless resolved their differences over China's debts for Russian oil exports.

Goods imports were the highest since May 2014 amid a $1.5 billion increase in crude oil imports.

Goods imports were the highest since May 2014 amid a $1.5 billion increase in crude oil imports.

Goods imports were the highest since May 2014 amid a US$1.5 billion increase in crude oil imports.

Europe’s set to be stuck with a higher oil bill as Russia shifts more of its supply to the Chinese oil market.

Europe’s set to be stuck with a higher oil bill as Russia shifts more of its supply to the Chinese oil market.