Rosneft 1Q Production Rose 3.4%
By Oliver Griffin
Rosneft Oil Co. (ROSN.MZ) said Monday that total production in the first quarter of 2019 rose 3.4% compared with the previous year, citing greenfield development and the ramp up of brownfield operations.
The Russian oil-and-gas company said its average daily production rose to 5.9 million barrels of oil equivalent in the first three months of the year, compared with 5.7 million barrels in the year-earlier period.
On quarter, production fell 0.6% as Rosneft complied with its obligations under the partner agreement with the Organization of the Petroleum Exporting Countries.
Gas production in the quarter rose to 17.12 billion cubic meters, from 16.87 billion cubic meters in the first quarter of 2018.
Sales of crude oil also rose by 15% year-on-year to 35.5 million tons, Rosneft said.
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(END) Dow Jones Newswires
May 13, 2019 10:14 ET (14:14 GMT)Copyright (c) 2019 Dow Jones & Company, Inc.