Gazprom Neft’s hydrocarbon production up by 4.7%

Oil&Gas Materials 21 May 2019 13:20 (UTC +04:00)

Baku, Azerbaijan, May 21

By Leman Zeynalova – Trend:

Hydrocarbon production, including Gazprom Neft’s share in joint ventures, rose to 23.3 million tonnes of oil equivalent (mtoe) in Q1 2019, a 4.7 percent increase year-on-year, Trend reports referring to the company.

Reportedly, this is a result of higher production levels at new fields (including the Novoportovskoye and Vostochno-Messoyakhskoye fields, and in the Orenburg region) together with a greater ownership interest in Arktikgas.

Refining volumes at Gazprom Neft’s own and joint-venture refining assets amounted to approximately 10 million tons in Q1 2019, effectively flat year-on-year, according to the report.

The company said sales of oil products via premium channels reached approximately six million tons.

“Gazprom Neft increased its market share in environmentally friendly marine fuels and increased sales of bunkering fuels by 24.6 percent, to 800,000 tons. Total sales of Gazprom Neft aviation fuels rose by 4.5 percent year-on-year, reaching 700,000 tons,” reads the report.

Gazprom Neft is a vertically integrated oil company, primarily engaged in oil and gas exploration and production, refining, and the production and sale of petroleum products. Gazprom Neft — leading the Russian oil industry in terms of efficiency.


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