JRL NEWSWATCH: “Russia to increase oil production to new record highs in 2019” – bne Intellinews

File Photo of Rosneft and Russian Flags Next to Rosneft Banner

“… [According to OPEC,] Russian oil production has increased recently to a record 11.2mn barrels a day …. Russian state-owned oil producer Rosneft has already earned more profit in the first quarter of this year than in all of 2017 … ma[king] it the most valuable company in the country. The Russia’s energy ministry has raised its forecast for oil production in 2018 by 3.5mn tonnes. ‘In 2019, Russian oil companies have the potential to increase production through greenfield development. Incremental production of oil, [natural gas liquids] NGLs and condensate could come from several projects, such as Uvat, East-Siberian, Vankorneft, Messoyakha and Yamal LNG,’ OPEC said, reports Tass …”

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