30 Dec 2015 09:39

Alliance Oil aims to raise oil output 1-2% to 2.4 mln tonnes in 2016

MOSCOW. Dec 30 (Interfax) - Alliance Oil Company plans to increase oil production by 1-2% to 2.4 million tonnes (about 17.9 million barrels of oil equivalent) in 2016, company CFO Leonid Bidny said in a conference call.

"The increase in production will depend on additional drilling, whether we will do it or not, whether we will carry additional costs or not, and this will depend on oil prices and macroeconomics," Bidny told Interfax.

Alliance Oil also plans to increase oil refining by 1-2% in 2016.