Gazprom Neft Approves Higher 2020 Spending

摘要

Gazprom Neft aims to raise spending in 2020 by over 5% as it proceeds with upstream and downstream growth projects in line with its growth strategy to 2030. The company is among the small number of Russian oil producers to pencil in higher spending for 2020 despite the extra commitments to cut production that Russia agreed on within the Opec-plus alliance. Among other majors, Tatneft said earlier that it aims to hike spending next year, while Lukoil said it might reduce out- lays and Rosneft said it should be flat on the year (NC Dec.5’19).