Gazprom Neft says wants to fulfill investment plan despite changes

ST. PETERSBURG, Jun 15 (PRIME) -- Oil company Gazprom Neft wants to fulfill the investment program, including in refining as the fuel price regulation mechanism changes, CEO Alexander Dyukov said on the sidelines of the St. Petersburg International Economic Forum on Thursday.

"If the cash flow shrinks, we pursue the goal of fulfilling the planned investment program that we planned," Dyukov said, when asked how fuel price ruling changes could affect the investment program.

The company fulfilled its quota in Russia's voluntary additional oil output cut and will follow the quota until the end of 2024, he said.

According to the executive, there are expectations of oil demand growth in July–December. Demand is estimated at 101.5–102.0 million barrels per day in 2023, he said.

Dyukov also said that Gazprom Neft is interested in oil transportation via the Northern Sea Route and may deliver several tanker batches eastwards during the summer navigation period.

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