Bashneft boosts oil production 12% in 9M 2015 to 14.7 mln t, refining down 12% to 14.3 mln t
MOSCOW. Oct 15 (Interfax) - Bashneft produced 14.674 million tonnes of oil in the 9M 2015, which is 12.1% more year-on-year, the oil company said.
Production at mature field in the 9M rose by 3% year-on-year. Bashneft-Polyus produced 963,000 tonnes of oil, which is 68.4% more than in 9M 2014. Burneftegaz produced 1.232 million tonnes in the reporting period, which is 132.3% more than last year.
Oil production in Q3 2015 was 5.1 million tonnes, which is 11.7% more year-on-year. "Production growth was driven mainly by Bashneft-Polyus and Burneftegaz, which accounted for 17.4% of total oil production as against 9.4% in the third quarter of 2014," the statement said. Average daily production rose by 11.7% to 55,800 tonnes.
"During the nine months of 2015, refining fell by 12.3% year on year (to 14.313 million tonnes). Given the current macroeconomic and tax conditions, this level of refining enables the Company to maximize the value of its product mix by increasing the output of light products," the company said. The company's refinery complex refined 5.1 million tonnes of oil in Q3 2015, which is down 7.3% from Q3 2014.
"Due to the reduction in refining, in the third quarter of 2015, the output of commercial products decreased by 7.2% year on year (to 4.692 million tonnes); during the nine months of 2015, it declined by 12.1% (to 13.204 million tonnes)," the company said.