Russian oil and gas condensate production at its highest since April 2020


A view shows the Gazprom Neft oil refinery in Omsk, Russia on February 10, 2020. REUTERS / Alexey Malgavko / Files

MOSCOW, October 2 (Reuters) – Russian oil and gas condensate production reached 10.72 million barrels per day (bpd) in September, the highest since the 11.34 million bpd pumped in April 2020, according to Reuters calculations based on an Interfax report. .

Total oil and gas condensate production stood at 43.86 million tonnes last month, Interfax news agency reported citing official data, up from 44.09 million tonnes in August, when it decreased slightly following the fire at the Gazprom processing plant (GAZP.MM).

Interfax also said on Saturday that natural gas production in Russia rose nearly 10% last month from August to 61.05 billion cubic meters.

The increase in Russian production of oil and gas condensates was in line with previous reports.

An industry source said production of gas condensate, a type of light oil excluded from Russia’s production quota under the OPEC + deal, nearly returned to July levels last month, when condensate production amounted to 3.07 million tonnes.

The OPEC + group of major oil producers, which includes Russia, is holding an online meeting on Monday to decide on continued production policy.

Under the current agreement, the group is increasing its cumulative production by 400,000 barrels per day each month.

Industry sources said OPEC + was considering moving beyond its existing deal amid oil near a three-year high and consumer pressure for more supply. Read more

OPEC’s oil production also rose in September to its highest level since April 2020, according to a Reuters survey, as Nigerian production recovered from unintended losses and the group’s major producers eased further. supply restrictions as part of a pact with its allies. Read more

Report by Vladimir Soldatkin; edited by Jane Wardell and Alexander Smith

Our Standards: The Thomson Reuters Trust Principles.

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