BAKU, Azerbaijan, March 12. Russian liquid production will dip by approximately 0.2 mb/d in 2024, compared to the previous year, settling at an average of 10.7 mb/d, Trend reports.
According to the latest assessment made by OPEC, despite the expected start-ups by key players like Rosneft, Russneft, Lukoil, Gazprom, Neftisa, and TenderResurs, the overall increase in liquid production might be offset by declines in mature fields.
Looking ahead to 2025, Russian liquid production is forecasted to grow by 0.1 mb/d compared to the preceding year, reaching an average of 10.9 mb/d, the bloc added.
Project ramp-ups at various oil fields and start-ups by Lukoil, Russneft, Sheshmaoil, Gazprom, Rosneft, and Sintek-Oil are expected to contribute to this growth.
Meanwhile, in January, Russia's liquid production is estimated to remain stable month-over-month at an average of 10.9 mb/d, encompassing 9.5 mb/d of crude oil and 1.4 mb/d of natural gas liquids (NGLs) and condensate.