Russia increased condensate production in August by 8.4% versus July

Russia increased condensate production in August by 8.4% versus July

Russia increased condensate production in August by 8.4% versus July

Condensate production in Russia in August increased by 8.4% versus July – up to 2.96 million tons, or 95.5 thousand tons per day, follows from the statistics, which was reviewed by Interfax.

This is the most significant increase for the entire year – the volume of condensate production, which has a seasonality, reached the level of the pre-crisis February. At the same time, a year ago in August, no increase was recorded against July. The average daily production volume for 8 months is 96.5 thousand tons.

Taking into account that the production of oil with condensate in August amounted, according to the Central Dispatch Office of the Fuel and Energy Complex, to 41.702 million tons, the production of oil exclusively – 38.741 million tons, or 1249.7 thousand tons per day.

In July, the average daily oil production in Russia amounted to 1,188.8 thousand tons, thus, in August, when a new stage of the OPEC + deal began, involving a partial weakening of quotas, Russia increased oil production by 5.1%.

Russian Energy Minister Alexander Novak said that in August Russia fulfilled its obligations under the OPEC + deal by 98%. This level of performance could be achieved using an average oil bbl of 7.23.

Under the terms of the OPEC + deal, Russia in August was supposed to produce about 9 million barrels of oil per day.

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