Author Topic: Which Company Will Russia Oil Production Cuts Come From?  (Read 517 times)


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The new year for oil traders ushers in the new game of watching countries complying in the OPEC & Non-OPEC deal.  Russia is the big one here for Non_OPEC producers, there daily oil production is at new post-Soviet era high.  In December oil production was 47.4 million tonnes, up 3.5% compared to December 2015. Whether Russia comply is whether Russian producers comply. Here is the state of play of Russian oil firms at the end of 2016.

Russia Oil Production by Company
- Novatek led in oil production growth in Russia last year, +37.6% growth year on year, its oil production grew to 12.46 mln tonnes.
- Gazprom Neft produced 57.79 million tonnes of oil, +6.7% growth year on year.

Image: Gazprom platform in Barents straight

- Bashneft oil production +6.3%, produced 20.8 mln tonnes
- Tatneft oil production +5.3%, produced 28.69 mln tonnes.
- Rosneft oil production +0.5%, produced 209.96 mln tonnes
- Surgutneftegazoil production +0.4%, produced 61.85 mln tonnes.

These companies reduced production;

- Lukoil cut oil production -2.8%, produced 83.57 mln tonnes,
- RussNeft cut oil production -5.2% , produced 7 mln tonnes
- Independent Oil Company cut oil production - 1.3%, produced to 2.3 mln tonnes.

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