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2017-03-03 18:30:00

LUKOIL PRODUCTION DOWN BY 3%

ЛУКОЙЛ: ДОБЫЧА НИЖЕ НА 3%

LUKOIL - The LUKOIL Group oil production for the fourth quarter and twelve months of 2016 was 22.7 and 92.0 million tonnes, respectively. Production for the fourth quarter excluding compensation crude oil from West Qurna-2 project in Iraq increased by 2.5% compared to the third quarter of 2016.

Oil production dynamics in Russia was positively impacted by launches of V. Filanovsky and Pyakyakhinskoe fields in the second half of 2016, an increase in production drilling volumes in West Siberia, as well as growth in production volumes in Timan-Pechora and Ural regions.

Oil production dynamics outside of Russia was influenced by the divestment of our share in Caspian Investment Resources Ltd. in Kazakhstan in 2015, as well as a decrease in compensation crude oil volume from the West Qurna-2 project.

Oil production, thousand tonnes

4Q 2016  3Q 2016   2016 2015
22,104 21,560 Total (excluding West-Qurna 2 project)

86,928

89,963
21,146 20,660 Russia 83 177 85,612
20,889 20,414 Subsidiaries 82 206 84,866
257 246 Share in affiliates 971 746
958 900 Outside of Russia 3,751 4,351
504 533 Subsidiaries 2,037 1,887
454 367 Share in affiliates 1 714 2,464
587 967 Compensation oil from West Qurna-2 project 5,064 10,725
22,691 22,527 Total 91,992 100,688

 

The LUKOIL Group marketable gas production for the fourth quarter of 2016 increased to 5.1 billion cubic meters, or by 8.3% compared to the third quarter 2016. Gas production for the twelve months of 2016 remained practically unchanged year-on-year at 20.3 billion cubic meters. Production volume was positively influenced by development of projects in Kazakhstan, Azerbaijan and Uzbekistan.

Marketable gas production, million cubic meters

4Q 2016 3Q 2016   2016 2015
5,131 4,737 Total 20,315 20,251
3 144 2,985 Russia 12 739 13,235
3 125 2,969 Subsidiaries 12 676 13,190
19 16 Share in affiliates 63 45
1,987 1,752 Outside of Russia 7,576 7,016
1,847 1,637 Subsidiaries 7,056 6,450
140 115 Share in affiliates 520 566

 

Refinery throughput at the LUKOIL Group refineries for the fourth quarter and twelve months of 2016 was 16.7 and 66.1 million tonnes, respectively. The year-on-year positive dynamics was mainly attributable to the increase in utilization rate at our refineries in Italy and Romania, while the volume of refinery throughput at our Russian refineries remained at 2015 level. The quarter-on-quarter dynamics was driven by planned maintenance works at our Volgograd refinery.

Refinery throughput at refineries, thousand tonnes

4Q 2016 3Q 2016   2016 2015
16,722 17,119 Total for LUKOIL Group refineries 66,061 64,489
10,723 11,092 Russia 41,752 41,855
5,999 6,027 Outside of Russia 24,309 22,634
5,456 5,362 Oil processing 20,356 18,832
543 665 Refined products processing 3,953 3,802
499 80 Third party refineries abroad 744

896

-----

Earlier: 

LUKOIL NET INCOME DOWN 55% 

$500 MLN FOR LUKOIL 

LUKOIL PROFIT DOWN 2% 

LUKOIL DOWN 59% 

LUKOIL NET INCOME DOWN 26%

 

 

 

 

 

 

 

 

Tags: LUKOIL, ЛУКОЙЛ, RUSSIA, РОССИЯ
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