Bashneft boosts production 10% in 9M to 13 mln tonnes, 11% in Q3
MOSCOW. Oct 21 (Interfax) - OJSC Bashneft boosted production 10% year-on-year in January-September 2014 to 13.085 million tonnes, the oil company said in a press release.
Third quarter production was up 11% at 4.596 million tonnes.
Strong growth of oil production was driven by a 3.8% increase in production at brownfields due to highly efficient geological and engineering operations and by production growth at the R. Trebs and A. Titov fields in the Nenets Autonomous District and at the Sorovskoye field in the Khanty-Mansi Autonomous District, which accounted for 9.4% of oil production in the third quarter of 2014, the press release says.
Average daily production rose to 50,000 tonnes in the third quarter and exceeded 51,000 tonnes at the end of the period.
Bashneft's refining complex processed 5.524 million tonnes of oil in Q3 2014, on a par with the same period last year. The average share of light products and average refining depth remained virtually unchanged year-on-year: the share of light products amounted to 59.25%, while refining depth stood at 85.02%, it says.
Output of commercial products declined 2.1% in the third quarter year-on-year to 5.055 million tonnes due to a number of operational factors. The output of gasoline decreased 1.1% to 1.169 million tonnes. The 3.9% year-on-year reduction in diesel fuel output to 1.881 million tonnes was related to an improvement in the product mix through an increase in production of niche light products.
Bashneft's refineries processed 16.323 million tonnes of hydrocarbons in the first nine months of 2014, 1.7% more than during the same period in 2013. The average refining depth (84.93%) and average share of light products (60.09%) were also little changed. "During the nine months of 2014, the output of commercial products gained 1.6% year-on-year, whereas the output of gasoline and diesel fuel remained at the level reached during the nine months of 2013," it says.
