Gazprom Neft Q1 crude output up 8% on year

摘要

Moscow-Gazprom Neft’s first-quarter crude and condensate production rose 8% year on year, with exports up 64% amid a jump in output at Arctic projects, the Russian company said Tuesday. Crude and condensate production totaled 1.18 million b/d in the first quarter, with exports at 2.63 million mt, or an average 211,800 b/d, despite strained economic conditions. “Overall, we evaluate the first quarter as a positive one given some of the worst [macroeconomic] conditions,” Gazprom Neft’s CFO Alexey Yankevich said in an earnings call. “Regardless of these negative conditions, the company has demonstrated a rise in output.”