Russia's Rosneft Says 2Q Crude Output Up 0.5%

Reuters

MOSCOW, Aug 11 (Reuters) - Russia's Rosneft, the world's top listed oil producer by output, said crude oil production was 4.11 million barrels per day (bpd) in the second quarter, up 0.5 percent quarter-on-quarter.

Production at Yuganskneftegaz, its biggest oil producing unit, rose 1.5 percent quarter-on-quarter, helping to lift overall output, Rosneft said in a statement on Thursday.

Rosneft, which saw its oil production decline 1 percent last year to 202.8 million tonnes (4.07 million bpd), recently announced an ambitious drilling programme to reverse the trend. It expects flat oil output in 2016.

Exploration drilling rose 16 percent in the second quarter. First-half crude production dipped 0.1 percent, year-on-year.

Russia pumped 10.85 million bpd in July, while Saudi Arabia, the world's top oil exporter, increased production in July to 10.67 million bpd. Russian output figures include gas condensate.

(Reporting by Olesya Astakhova; writing by Katya Golubkova; editing by Maria Kiselyova and Susan Thomas)

Copyright 2016 Thomson Reuters. Click for Restrictions.

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