Gazprom Neft, a subsidiary of Russia’s Gazprom company, is the fourth largest oil producer in the country.
It is a vertically integrated oil company primarily engaged in oil and gas exploration and production, refining, and the production and sale of petroleum products.
Earlier, Russia’s deputy energy minister Kirill Molodtsov said it is planned to export around 253.5 million tons of oil in 2016, or 4.8 percent more than in 2015.
During the meeting of OPEC and non-OPEC countries held in Vienna Dec.10, Russia expressed readiness to cut its oil output by 300,000 barrels per day.
2016 oil output to be 7.7% more than in 2015 - Gazprom Neft
27 December 2016
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The production volumes at Russia’s Gazprom Neft in 2016 are expected to reach 88.8 million tons of oil equivalent, or some 7.7 percent up year-on-year, said the statement posted on the company’s website.
