Russia boosted oil output to 10.21 million barrels a day in January, near a post-Soviet record, as state-controlled OAO Gazprom Neft ramped up output and OAO Lukoil halted monthly declines. Exports fell.
Russia may encounter short-term shortages of oil products such as gasoline and winter diesel as demand grows, refineries conduct seasonal maintenance and export duties fall, encouraging shipments abroad, analysts said.
Russian production of crude oil and natural-gas condensate topped June’s post-Soviet record last month as companies like OAO Gazprom, spurred on by President Vladimir Putin, invested in increasing output.
OAO Gazprom , Russia’s monopoly gas exporter, said profit fell 9 percent in the third quarter from a year earlier because of an exchange loss, while rising prices compensated for a decline in European sales.
OAO Gazprom, Russia’s natural-gas exporter, has begun work on a pipeline from Sakhalin Island to the eastern city of Vladivostok that may serve as a major export route to Asia, the company’s chief executive officer said.
OAO Surgutneftegas, Russia’s third- largest oil producer, reported it has 921 billion rubles ($29.7 billion) of cash and deposits in its first results under international standards in more than a decade.
OAO Surgutneftegas, a Russian oil producer operating in Siberia, won rights to the Shpilman field with a 46.2 billion-ruble ($1.5 billion) bid, according to a statement on the website of subsoil agency Rosnedra.