Russneft expects its oil output in Russia and Azerbaijan to reach 7.85 million mt, or around 157,645 b/d in 2019, the Russian company’s vice president for geology and development, Mikhail Sukhoparov, said Thursday. Receive daily email alerts, subscriber notes & personalize your experience. Register Now Russneft’s 2019 forecast was for output of around 7.35 million mt in Russia and 500,000 mt in Azerbaijan. That would be equivalent to an increase of 3% on 2018 production, which was 7.614 million mt. Output rose 1.3% in 2018. “Over the next few years our output is set to rise slightly, and capex will stay at around this year’s level,” Sukhoparov said during a conference call on the company’s 2018 financial and production results. Russneft expects its capex in 2019 to be roughly flat on year at around Rb25 billion ($384 million). Russneft has producing assets in West Siberia and Central […]