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Lukoil decreases oil production

09 August 2021 14:50 (UTC +04:00)

For the six months of 2021 LUKOIL Group's average hydrocarbon production excluding the West Qurna-2 project was 2,109 thousand boe per day, which is 2.1% lower year-on-year, while in the second quarter of 2021 hydrocarbon production increased by 4.2% year-on-year, APA-Economics reports citing Lukoil Company.

"The production dynamics was attributable to the dynamics of the external limitations on oil production due to the OPEC+ agreement. Hydrocarbon production was 4.0% lower quarter-on-quarter due to the dynamics of gas production in Uzbekistan.

For the six months of 2021 oil production excluding the West Qurna-2 project was 38.2 million tonnes, which is 4.3% lower year-on-year in average daily terms, while in the second quarter of 2021 oil production was 19.5 million tonnes, which is 2.5% higher quarter-on-quarter in average daily terms. Oil production dynamics was driven by the OPEC+ agreement concluded in April 2020, which led to limitations on oil production by the Group in Russia and at certain international projects," noted on the company's website.