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Russia's oil output increase making it bigger global player - Gazprom Neft

Gasoil News - Published on Wed, 28 Nov 2018

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Reuters quoted Gazprom Neft, the oil arm of Russian gas giant Gazprom, as saying that planned higher oil output in coming years would strengthen its position among top international companies. In an updated strategy covering the period to 2030, it said that the main contribution to output growth in 2020-2030 would be from new assets and those that will be commissioned soon. "The company focus is on strengthening its position among the top 10 publicly traded global oil and gas companies by liquid hydrocarbons output," it said in a statement without providing figures.

Gazprom Neft's total oil production is seen rising by between 20,000 and 30,000 bpd this year and it may add another 50,000 bpd next year, the highest pace of growth among its Russian peers.

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Posted By : Joykumar Irom on Wed, 28 Nov 2018
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