Russian oil output stood at 10.97 million barrels per day (bbl/d) in April, unchanged from an 11-month high in March and above a target set by a deal with OPEC on curbing output, Energy Ministry data showed on May 2.
Russia agreed to cut oil production by 300,000 bbl/d from the 11.247 MMbbl/d level it reached in October 2016, the baseline for reductions under a pact with the OPEC and other producers.
The deal is valid until the end of the year. OPEC and some non-OPEC countries, including Russia, will gather in Vienna in June to review the deal.
Russian Energy Minister Alexander Novak has said a joint organization for cooperation between OPEC and non-OPEC countries may be set up once the oil deal expires at the end of 2018.
Russia’s total output for April reached 44.878 million tonnes versus 46.39 million tonnes in March.
Output by Rosneft, the biggest producer among listed firms, edged up by 0.1% from March, while production at Gazprom Neft, Russia’s fastest growing oil producer, rose by 0.9 percent. The gains were offset by smaller producers, whose combined output fell by 0.9%.
Russian oil pipeline exports in April rose to 4.367 MMbbl/d from 4.163 MMbbl/d in March.
Gas production was at 61.86 billion cubic meters (Bcm) last month, or 2.06 Bcm a day, versus 65.68 Bcm in March.
Chesapeake Energy also revealed that output growth from the Powder River Basin and Eagle Ford Shale has made up for the sale of its Utica assets.
Tullow Oil’s production is set to grow to between 94,000 and 102,000 barrel of oil equivalent per day (boe/d) this year, it said in a trading update on Jan. 16, from 90,000 boe/d last year as it increases output in Ghana.
The company produced 162,000 boe/d in 2018 and in the fourth quarter reported an operating cash flow of $416 million.