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2017-10-02 14:50:00

RUSSIAN OIL PRODUCTION: 10.91 MBD

RUSSIAN OIL PRODUCTION: 10.91 MBD

REUTERS - Russian oil output stood at 10.91 million barrels per day (bpd) in September, unchanged from August and staying at a low for the year, Energy Ministry data showed on Monday after output was disrupted by maintenance works at some sites. 

In tonnes, total output in the month of September reached 44.639 million versus 46.144 million in August, which is one day longer.

The daily rate in September and August was the lowest level of output since it slipped to 10.71 million bpd in August 2016. 

It is down 3 percent from the October 2016 level, the benchmark when a global oil deal was reached on curbing oil production. 

The Organization of the Petroleum Exporting Countries, Russia and other producers agreed to cut their combined oil production by almost 1.8 million barrels per day from January in a bid to reduce a supply glut that had driven down prices.

Data from the Russian Energy Ministry showed an output fell by 39 percent in September from August at the oil projects run by foreign majors under production sharing agreements (PSA). 

Russian Energy Minister Alexander Novak has said the ExxonMobil-led Sakhalin-1 project underwent a maintenance last month. 

All Russian majors boosted output in September from August. 

Production by Rosneft , the world's largest listed oil producer by output, rose by 1.2 percent to 3.82 million bpd, while output at Russia's No.2 oil producer Lukoil edged up 0.7 percent to 1.64 million bpd in Russia. 

Russian oil pipeline exports in September stood at 4.30 million barrels per day, down from 4.34 million bpd in August. 

Natural gas production was at 53.69 billion cubic metres (bcm) last month, or 1.79 bcm a day, versus 54.2 bcm in August.

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Earlier:

RUSSIA - CHINA INVESTMENT
September, 25, 13:15:00

RUSSIA - CHINA INVESTMENT

So the $9.1bn stumped up by CEFC China Energy this month for a 14.16 per cent stake in Russian oil producer Rosneft was a welcome surprise for those keen for China to become a big investor in Russia.

 

 RUSSIAN OIL FOR CHINA
September, 22, 09:00:00

RUSSIAN OIL FOR CHINA

Chinese oil refineries are gearing up to receive more Russian oil transported through an expanded Siberian pipeline network from January, likely cementing Russia’s position as China’s largest oil supplier in a close race with Saudi Arabia.

 

 RUSSIA - KURDISTAN INVESTMENT
September, 22, 08:50:00

RUSSIA - KURDISTAN INVESTMENT

Instead, with the planned referendum just days away, Russian state oil giant Rosneft announced its latest investment last week, to help Iraqi Kurdistan develop its natural gas industry, for domestic supplies and eventual export.

 

 RUSSIA - CHINA - VENEZUELA OIL
September, 18, 12:30:00

RUSSIA - CHINA - VENEZUELA OIL

“The principal risk regarding Russian and Chinese activities in Venezuela in the near term is that they will exploit the unfolding crisis, including the effect of US sanctions, to deepen their control over Venezuela’s resources, and their [financial] leverage over the country as an anti-US political and military partner,” observed R. Evan Ellis, a senior associate in the Center for Strategic and International Studies’ Americas Program.

 

 CHINA BUYS ROSNEFT 14.16%, $9 BLN
September, 11, 12:35:00

CHINA BUYS ROSNEFT 14.16%, $9 BLN

CEFC China Energy is set to take a stake of almost $9bn in Russian state-controlled oil company Rosneft, in a major strengthening of energy ties between Beijing and Moscow as relations deteriorate with the west.

 

 RUSSIAN OIL PRODUCTION DOWN TO 10.9 MBD
September, 4, 12:35:00

RUSSIAN OIL PRODUCTION DOWN TO 10.9 MBD

Russian oil output slipped to a year-low of 10.91 million barrels per day (bpd) in August from 10.95 million bpd in July, Energy Ministry data showed on Saturday, as Gazprom Neft suspended offshore Arctic production to carry out maintenance.

 SAUDIS - RUSSIA OIL DEAL
August, 31, 12:25:00

SAUDIS - RUSSIA OIL DEAL

Top oil producers Saudi Arabia and Russia are pushing to extend their deal to limit crude oil production for another three months, which would leave the output deal between OPEC and non-OPEC producers in place through the end of June, people familiar with the matter said.

 

 

 

Tags: RUSSIA, OIL, PRODUCTION
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