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Oil production in Russia shows significant growth, report says

Oil production in Russia in January - August 2016 increased by 1.9%, according to the report by the Central Dispatching Department of Fuel Energy Complex

© Ruslan Shamukov/TASS

MOSCOW, September 2. /TASS/. In August oil production amounted to 45.3 mln tonnes (an increase of 0.1% year-on-year).

Novatek was the leader in terms of growth of oil production in Russia in January - August 2016. The company increased the figure by 46.8% compared to the same period last year - up to 8.4 mln tonnes. Among the oil companies, Bashneft showed the best results in January - August; the company's output amounted to 13.8 mln tonnes, which is 8.2% more than in the same period of 2015

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Tatneft also showed production growth of 4.9% to 18.7 mln tonnes, Gazpromneft increased production by 4.2% to 37.5 mln tonnes and Surgutneftegaz - by 0.2% to 41 mln tonnes. The Independent Petroleum Company maintained its production at the last year level of 1.5 mln tonnes.

Lukoil reduced production by 3.6% to 55.5 mln tonnes. Production of Rosneft in January - August amounted to 132.9 mln tonnes, which is 0.2% less than in the same period in 2015. RussNeft reduced production by 9.2% to 4.6 mln tonnes.

Gazprom Neft boosts gas production

Russian oil and gas major Gazprom Neft boosted natural gas production by 8.3% to 21.2 bln cubic meters in January - August 2016, the Central Dispatching Department of Fuel Energy Complex said.

Rosneft increased gas production by 6.5% to 43.4 bln cubic meters in the reporting period.

Novatek’s natural gas production rose 0.8% to 45.7 bln cubic meters in January - August 2016 but declined 6.8% year-on-year in August 2016 to 5.4 bln cubic meters.

At the same time, Lukoil lowered natural gas production by 2.3% to 12.2 bln cubic meters in the reporting period, the report reads.

Russia increases oil exports by 5%

Russia increased oil exports in January - August 2016 against the same period of the last year by 5% to 168.2 mln tonnes, according to the report.

In particular, August exports totaled 19.4 mln tonnes (a decline of 1.8% year-on-year).

In eight months of the year, deliveries to CIS countries dropped by 2.5% to 13.9 mln tonnes but rose to non-CIS countries by 5.7% to 154.3 mln tonnes.

Oil feedstock supplies to Russian refineries in January - August 2016 amounted to 187.4 mln tonnes, which is 2.8% lower than a year earlier.

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