Russian oil and gas condensate output increased to 9.8 million barrels per day (MMbbl/d) on Aug. 1-2 from 9.37 MMbbl/d in July as the country eases production curbs under an OPEC+ deal, a source familiar with data said Aug. 3.
The Energy Ministry declined to comment on the data.
OPEC+ producers, which include members of OPEC and allies such as Russia, from Aug. 1 have agreed to slim their output cuts to 7.7 MMbbl/d from 9.7 MMbbl/d.
Russia has said it will increase its crude oil production by 400,000 bbl/d as part of that deal, which does not include output of gas condensate, a light oil.
Russia usually produces 700,000 to 800,000 bbl/d of gas condensate.
That means that excluding gas condensate, Russia could have produced about 9 million to 9.1 MMbbl/d of crude oil in early August, comparing to a target of about 9 MMbbl/d.
Recommended Reading
OEP Completes Acquisition of TechnipFMC’s Measurement Solutions Business
2024-03-27 - One Equity Partners said TechnipFMC’s measurement solutions business will be rebranded as Guidant and specialize in measurement technology, automation solutions and global systems.
PE Investors Scoop Up Offshore Services Provider Acteon Group
2024-03-27 - Acteon Group, a U.K.-based subsea services provider serving customers in offshore oil, gas and renewables, was acquired by new private equity backers.
Exclusive: Is TG Natural Resources Looking to Snap Up More?
2024-03-27 - At Hart Energy's DUG Gas+ Conference and Expo in Shreveport, Louisiana, TG Natural Resources' President and CEO Craig Jarchow said the integration of the Rockcliff Energy acquisition is well underway and that "being acquisitive is certainly" in the company's future.
IKAV and VTTI to Buy Majority Stake in Italy's Adriatic LNG Terminal
2024-03-27 - The closing of the deal to buy majority stake in the Adriatic LNG terminal by VTTI and IKAV is expected in the second half of the year.
Eni, Vår Energi Wrap Up Acquisition of Neptune Energy Assets
2024-01-31 - Neptune retains its German operations, Vår takes over the Norwegian portfolio and Eni scoops up the rest of the assets under the $4.9 billion deal.