CEO: Russia's Rosneft oil output to fall in 2014

KARA SEA, Sep 29 (PRIME) -- Russian state-owned oil major Rosneft forecasts its oil output to decrease in 2014 due to negotiations with contractors, CEO Igor Sechin told PRIME in an interview Monday.

“A slight decrease in oil output is possible, but it will be compensated by gas output,” he said, adding that “we’ve decided not to raise services prices and decrease the output, but show a better efficiency.”

“Next year we will compensate that,” Sechin added

Sechin also said Rosneft has suspended operation of its Lisichansky oil refinery located in Ukraine.

“We are suspending it for now…The plant has been damaged by the bombardment. We’ve informed Ukrainian authorities about that and now are holding preliminary talks on redeeming the damage,” he said, adding that now the situation depends on “volatile” Ukrainian authorities.

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