Date: 8 months ago   Category: Energy

Surgutneftegas and Tatneft in August have restored oil production to the level of October, 2016 — Rambler News Service


Photo: TASS / Konstantin Veremeychik Surgutneftegas and Tatneft have restored oil production in August, 2018 to the level of October, 2016 which is basic level within the agreement of Russia with OPEC on reduction of level of oil production. It follows from materials of the Central dispatching management of energy industry (TsDU energy industry). Production of Surgutneftegas has increased in August by 1,3% to an indicator of October, 2016 — to 5,306 million tons. Production of Tatneft has increased by 0,7% — to 2,532 million tons. Earlier, in July, production was restored by Gazprom Neft and Russneft. Production of Gazprom Neft in August has grown by 2,1% — 5,337 million tons. The volume of production of Russneft was in August 609 thousand tons against 609,2 in October, 2016. Production of Lukoil in August was reduced by 1% — to 7,066 million tons. Have most strongly reduced oil production volume in August to the level of October, 2016 within participation of Russia in the transaction with OPEC Neftegazholding (earlier — the Independent oil and gas company, NOC) Eduarda Khudaynatova and Novatek. Novatek has reduced production by 9,1% — to 946,4 thousand tons. Production of Neftegazholding in August has made 166,1 thousand tons that is 12,2% less, than in October, 2016. At the same time, according to data of TsDU energy industry, operators of the Production Sharing Agreement have reduced production by 0,9% — to 1,078 million tons. Production of other subsoil users has made 5,066 million tons in August that is 1,4% less, than in October, 2016. Total oil production in Russia has grown in August by 0,5% to an indicator of October, 2016 — from 47,386 million tons to 47,41 million tons. At the end of November, 2016 in Vienna there has taken place the summit of OPEC where member countries of cartel have reached the agreement on reduction of oil production on 1,2 million barrels a day, up to 32,5 million barrels, and have defined quotas for organization member countries. On December 10 in Vienna there has taken place the meeting of the producers of oil which aren't entering into OPEC. Independent producers have signed the agreement on oil production reduction totally on 558 thousand barrels a day since January, 2017. On May 24-25, 2017 meetings of the countries of OPEC and independent producers of oil where the parties have agreed have taken place to prolong the agreement for nine months, until the end of the I quarter 2018, on the current conditions. On November 30, 2017 the agreement has been prolonged until the end of 2018. According to arrangements with OPEC, Russia had to reduce oil production by 300 thousand barrels a day to an indicator of October, 2016 when oil production made 11,247 million barrels a day (according to the Ministry of Energy of the Russian Federation). On April 28, 2017 the Ministry of Energy of the Russian Federation has reported that Russia has achieved the stated production reduction. On June 23, 2018 the OPEC countries at a meeting in Vienna have made the decision to increase production since July 1, 2018 approximately by 1 million barrels a day — before 100 percent observance of terms of transaction. The Minister of Energy of the Russian Federation Alexander Novak explained that the share of Russia in the general increase in oil production of the countries of OPEC can make about 200 thousand barrels a day. On September 3 the current year the Energy Minister of the Russian Federation Alexander Novak has reported that following the results of August Russia has reduced production a nave

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