Gasoline is pumped into railway gasoline tankers at an oil refinery operated by OAO Bashneft in Ufa, Russia. Gas condensate is more valuable than other types of crude because when it’s refined it produces a very high proportion of high-value gasoline. Photographer: Andrey Rudakov/Bloomberg With Siberia’s aging oil fields slowly running dry, Russia is turning to a natural gas by-product to help maintain crude production and meet President Vladimir Putin’s target of 10 million barrels a day. As companies including OAO Gazprom, OAO Novatek and OAO Rosneft get new Siberian gas fields up and running, they’re also boosting output of condensate, a prized, ultra-light form of crude that’s a common component of underground gas reserves. Condensate is especially important now because it’s not covered by sanctions on Russia’s oil industry that have targeted Arctic drilling and shale projects. Production of the ultra-light crude will swell as much as 17 […]