Gazprom Neft retains ‘19–20 output plan regardless of OPEC talks

MOSCOW, Dec 5 (PRIME) -- Russian oil producer Gazprom Neft has retained its output plans for 2019 and 2020 regardless of whether the Russian authorities approve output reduction in the framework of the OPEC plus nonmember agreement, CEO Alexander Dyukov told reporters on Wednesday.

“Yes, we plan to raise production in 2019 and as we promised, production in 2020 will amount to 100 million tonnes of oil equivalent, the oil figure will be close to 70 million tonnes,” Dyukov said.

OPEC is making an effort to convince Russia to reduce oil production by at least 300,000 barrels per day, sources close to the negotiations told PRIME.

Dyukov also said that some production decrease is necessary to balance the oil market.

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