In the latest news from Russia's oil industry, Rosneft, the country's biggest producer, announced a decline in its production of oil and gas condensate during the second quarter of the year. This announcement came on Wednesday, amidst a backdrop of increasing pressure on the oil market as the COVID-19 pandemic continues to disrupt the global economy. With Rosneft playing such a significant role in the world's oil supply, experts are closely monitoring any shifts in its production levels.
1. Rosneft, Russia's biggest oil producer, reported a decline in production of oil and gas condensate during the second quarter of the year.
2. The announcement came amidst increasing pressure on the oil market due to the ongoing COVID-19 pandemic.
3. Rosneft's average daily output declined by 2.3% compared to the previous quarter, reaching 4.14 million barrels per day.
4. The company attributed this decrease to natural decline at its mature fields and ongoing maintenance work limitations.
5. Analysts are concerned about Rosneft's ability to meet long-term production targets and maintain its position as the leading oil producer in the country.
Rosneft's production of oil and gas condensate declined by 13.2% in the second quarter of this year.
quarter of 2023, triggering concerns about the company's performance. According to Rosneft's statement, their average daily output declined by 2.3% compared to the previous quarter, reaching 4.14 million barrels per day. The company attributed this decrease to natural decline at its mature fields and limitations due to ongoing maintenance work. This decline in production has raised questions among analysts about Rosneft's ability to meet its long-term production targets and maintain its position as the leading oil producer in the country.