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Lukoil posts 14% increase in oil exports in 2022 — company

The company supplied 44 mln metric tons of oil to its refineries in Russia, up 3.3%

MOSCOW, May 2. /TASS/. Lukoil ramped up crude oil exports by 14% in 2022 to 35.4 mln metric tons, largely owing to the increase in deliveries to its refineries in Europe, the Russian oil major reported.

Petroleum products exports moved up by 10.5% to 19.4 mln metric tons.

The company sold 1.7 mln metric tons of oil on the domestic market in 2022, compared to 2.7 mln metric tons in 2021, according to the report. "The change in domestic sales is related to the increase in supplies to in-house refineries in Russia. Oil sales overseas dropped to 47.6 mln metric tons or by 48.8% because of the decline in trading third party resources," Lukoil noted.

The company supplied 44 mln metric tons of oil to its refineries in Russia, up 3.3%. Oil deliveries to European refineries of the company soared by 35.5% to 24.8 mln metric tons.