LukOil 1Q Hydrocarbon Production Fell on Lower Chinese Demand
May 20 2020 - 10:51AM
Dow Jones News
By Adriano Marchese
LukOil PJSC said Wednesday that hydrocarbon production fell in
the first quarter year-on-year, driven by lower gas supply to China
as the coronavirus outbreak depressed demand there.
The Russian oil-and-gas company said hydrocarbon production
excluding the West Qurna-2 project was 2.33 million barrels of oil
per day compared with 2.38 million barrels a day in the first
quarter of 2019.
Oil production, also excluding the West Qurna-2 project, reached
21.4 million metric tons, a 0.7% year-on-year increase, the company
said.
LukOil said that total quarterly gas production amounted to 8.41
billion cubic meters, down from 8.98 billion, weighed by lower
production outside of Russia. Gas production in Russia increased
5.9% year-on-year, and 1.1% quarter-on-quarter.
Write to Adriano Marchese at adriano.marchese@wsj.com
(END) Dow Jones Newswires
May 20, 2020 10:36 ET (14:36 GMT)
Copyright (c) 2020 Dow Jones & Company, Inc.
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