Russian company Lukoil reports slight dip in oil production

17 Aug 2017   Russia

Russian energy company Lukoil said total oil production for the second quarter was slightly lower, in part because of a reduction from operations in Iraq. One of Russia’s largest energy companies, Lukoil said second quarter production of crude oil was around 156 million barrels, a decline of about a half percent from the first quarter. Russian oil production for the period was 148 million barrels, a decline of about 0.3 percent. Its share of oil from the West Qurna-2 project in Iraq actually increased for the second quarter by 19 percent, but year-on-year compensation was lower by 75 percent to 6.4 million barrels for the first half of the year. “The year-on-year dynamics was mainly driven by the reduction […]

Comments are closed.