Lukoil 2Q Production Fell 2.3% on Quarter

Date : 08/12/2019 @ 9:19AM
Source : Dow Jones News
Stock : Pjsc Lukoil (PC) (LUKOY)
Quote : 106.66  -0.02 (-0.02%) @ 9:59PM
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Lukoil 2Q Production Fell 2.3% on Quarter

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   By Oliver Griffin 
 

Lukoil PJSC (LKOH.MZ) on Monday said second-quarter production, excluding contributions from the West Qurna-2 project, fell 2.3% on quarter, following external limitations on oil output by Russian companies.

The Russian oil-and-gas company said production averaged 2.32 million barrels of oil equivalent a day, compared with 2.38 million barrels in the first quarter of the year.

For the first half of the year, total production excluding West Qurna-2, rose 2.8% to 2.35 million barrels of oil equivalent a day. The increase was mainly driven by the development of gas projects in Uzbekistan and domestic oil production growth, the company said.

Total oil production including West Qurna-2 rose on quarter to 21.8 million metric tons, Lukoil said. Second-quarter gas production fell 6.7% to 8.38 billion cubic meters, Lukoil said. The fall was attributed to seasonality, scheduled maintenance works and technical reasons.

 

Write to Oliver Griffin at oliver.griffin@dowjones.com; @OliGGriffin

 

(END) Dow Jones Newswires

August 12, 2019 05:04 ET (09:04 GMT)

Copyright (c) 2019 Dow Jones & Company, Inc.

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