Lukoil CEO says Russian oil output may fall after 2018

SOCHI, Sep 30 (PRIME) -- Russia’s oil production may fall after 2018 if the government keeps the tax burden on the industry, Vagit Alekperov, CEO of oil major Lukoil, told reporters Friday.

“I would not like to be some kind of a prophet, but stabilization will be there already in 2017…While in 2018–2019 production will fall,” he said, when asked about an impact of a higher tax burden.

In 2015, Russia produced 533 million tonnes of oil and gas condensate. Deputy Energy Minister Kirill Molodtsov said previously that the ministry maintained the forecast for oil and condensate production in 2016 at 540–545 million tonnes.

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