Date: 3 months ago   Category: Energy

Tatneft will increase oil production in 2018 by 1% thanks to mitigation of the transaction of OPEC — Rambler News Service


Tatneft will increase production of a neyta in 2018 by 1% in comparison with an indicator of last year - to 29,2 million tons, the company has reported during the telephone conference. Growth will be reached thanks to mitigation of terms of agreement about reduction of oil production between OPEC and independent producers of oil (the transaction of OPEC). "By the end of the year production will make 29,2 million tons that is 1% more than an indicator of last year" — the representative of the company has noted. According to him, the company has already increased production in July-August. 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. As earlier reported to RNS, Tatneft in 2017 has increased oil production by 0,9% — to 28,9 million tons. In 2018 Tatneft expects decrease in oil production by 0,6% — to 28,74 million tons.

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