Date: 4 months ago   Category: Energy

Tatneft in October has increased oil production higher than the level of the transaction of OPEC — Rambler News Service


Photo: Vladimir Song/RIA Novosti Tatneft has increased oil production in October, 2018 by 1,6% in comparison with 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 Tatneft in October has made 2,554 million tons against 2,515 million tons in October, 2016. The volume of production of Russneft was 608,5 thousand tons in October that is 0,1% less, than in October, 2016. Production of Gazprom Neft has decreased by 0,5% — up to 5,202 million tons. Production of Lukoil was reduced by 0,7% — to 7,092 million tons. Production of Surgutneftegas has decreased in October by 0,9% to an indicator of October, 2016 — up to 5,193 million tons. Have most strongly reduced oil production volume in October 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 2,6% — to 1,014 million tons. Production of Neftegazholding in October has made 171,7 thousand tons that is 9,3% less, than in October, 2016. At the same time, according to data of TsDU energy industry, operators of the Production Sharing Agreement have increased production by 19,1% — to 1,296 million tons. Production of other subsoil users has made 5,476 million tons in October that is 6,6% more, than in October, 2016. Total oil production in Russia has grown in October by 1,9% to an indicator of October, 2016 — from 47,386 million tons to 48,262 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.

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