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RussNeft maintains oil production growth rates leadership in Russia

11.03.2012 "Interfax"

Moscow. According to the balance of work in the 2 months of 2012 NK RussNeft (RTS: RUSN) maintains oil production growth rates leadership which it was sharing with Bashneft (RTS: BANE) during the last year.

According to the Central Dispatch Service of the Fuel and Energy Complex data, oil production growth rates at RussNeft in January-February 2012 amounted to 7.5% in comparison with the analogous period of the last  year, the company produced 2.267 million tons.  Gasprom  neft (RTS:  SIBN) ranks second:  its production grew by 6.5% and production volume reached 5.117 million tons. Next, Bashneft (+4.6%, 2. 516 million tons),  Rosneft (RTS: ROSN) ) (+3.7%, 19.031 million tons), TNK-BP (RTS: TNBP) (+3.4%, 11.979 million tons), Surgutneftegas (RTS: SNGS), (+2.6%, 10.007 million tons),  Tatneft (RTS: TATN) (+1.7%, 4.3million tons), Slavneft (+0.8%, 2.957 million tons).Only LUKOIL (RTS: LUKOIL) shows negative figures: (-1.4%, 13.858 million tons).
Separately, by the months of January and February RussNeft headed the growths rates list too: (+5.95% and +9% respectively), Bashneft figures were  +4.6% and +6.3%, Gazprom neft - +2.1% and +8.3%, TNK-BP - +1.8% and +5.2%, Rosneft - +1.6 and +3.7%, Surgutneftegas -  +0.7%, and +4.7%,  Tatneft -  +0 % and 3.4% , Slavneft - -0.9% and + 2.7%, LUKOIL - -3.3% and +0.7%. This being the case, one must take into account that February 2012 numbered one day more than February 2011.
According to the work results of 2011 Bashneft became the oil production growth rates leader (+6.8%, 15.105 million tons), RussNeft ranked second (+5.9%, 13.634 million tons), next was Surgutneftegas (+2.1%, 60.781 million tons , Rosneft (+1.9%, 114.495 million tons), Gazprom neft (+1.3%, 30.228 million tons), TNR-BP (+0.9%, 72.642 million tons), Tatneft (+0.3%, 25.929 million tons), Slavneft (-1.5%, 18.086 million tons) and LUKOIL (-5.3%, 85.322 million tons). The press-service of RussNeft explained to Oil Information Agency (OIA) that production growth was achieved at the account of management structure optimization, significant increase of investments     in geological and engineering operations, infrastructure and personnel. 

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