Thursday, November 28, 2019

Gazprom Neft is not ready to cut

Gazprom Neft is not ready to cut oil production

The head of "Gazprom oil" Alexander Dyukov said that the company is not ready to reduce oil production, as has recently commissioned a number of new fields. However, he admitted that, technically, a company can reduce production.

"So far from us that nobody needs, but if need be, if we talk about the company" Gazprom Neft ", then, to be honest, we are not ready for this, because the mining companies in the last ten years is steadily growing," - he said in an interview "Russia 24" TV channel.

According to him, this year we expect production growth of about 8-9%.

He added that technically the company could cut production by stopping new drilling and the use of wells, which are equipped with frequency regulators.

"In this case (the use of wells -. Approx Tass) we are able to change the productivity, reduce the pump capacity and the volume of production in this fund, we could achieve a reduction in production by 5-10%", - he said.

Countries - OPEC members at an informal meeting on September 28 at the XV International Energy Forum in Algeria, despite the skepticism on the eve of the event the participants were able to agree on the limitation of oil production at the level of 32.5 - 33 million barrels per day. Iranian Oil Minister Bijan Namdar Zanganeh said that OPEC will create a steering committee, which in November will present a final proposal to limit the volume of oil production. Also, the individual quotas for countries to be defined.



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