2 Aug 2018 10:28

Russian oil production in 7M 2018 virtually unchanged from year earlier - CDU TEK

MOSCOW. Aug 2 (Interfax) - Oil and gas condensate production in Russia totaled 318,571 million tonnes (11.015 million barrels per day) in January-July 2018, virtually unchanged from 318,648 million tonnes in the same period last year, the latest data from the Central Dispatching Department of the Fuel and Energy Complex (CDU TEK) show.

Russia produced 47.429 million tonnes in July 2018, 2.4% more year-on-year. Average daily production was 11.215 million bpd.

Output in July was down 0.1% from 47.494 million tonnes (11.230 million bpd) in October 2016, which is the benchmark month for the OPEC/non-OPEC production cuts.

Rosneft produced 111.072 million tonnes of oil in 7M 2018, including 16.551 million tonnes in July; Lukoil produced respectively 47.298 million tonnes and 7.017 million tonnes; Surgutneftegas - 34.963 million tonnes and 5.193 million tonnes; Gazprom Neft - 22.844 million tonnes and 3.577 million tonnes; Tatneft - 16.795 million tonnes and 2.512 million tonnes; Bashneft 11.009 million tonnes and 1.605 million tonnes; Slavneft - 7.896 million tonnes and 1.188 million tonnes; and Russneft - 4.108 million tonnes and 0.611 million tonnes.

The CDU TEK statistics still count Bashneft production data separately, even though Rosneft bought a 50.0755% stake in mid-October 2016.

Companies with Russian capital and joint ventures with foreign investment produced 46.595 million tonnes of crude in 7M 2018, including 6.771 million tonnes in July. CDU TEK does not separately publish data on production by gas giant Gazprom , noting that they are included as estimates in the entry for "other resource users."

The operators of production sharing agreements produced 10.571 million tonnes of oil in 7M 2018, including 1.620 million tonnes in July.