Lukoil Increases Hydrocarbon Production Available for Sale
OREANDA-NEWS On 28 October was announced, that LUKOIL Group (subsidiary companies and LUKOIL’s share in output by equity affiliates) total hydrocarbon production available for sale reached 2.21 mln boe per day in the third quarter of 2008, up 4.1% y-o-y. Hydrocarbon production available for sale increased by 0.4% y-o-y to 2.19 mln boe per day in 9M 2008.
Launch of commercial production at the Yuzhnaya Khylchuya field in Timan Pechora region in August 2008 offset the Company’s production decrease in traditional regions. Successful development of Uzbek project Kandym – Khauzak – Shady provided the most of the gas production growth.
Throughputs at LUKOIL own refineries totaled 41.98 mln tons, up 8.7% y-o-y, due to LUKOIL refining capacity expansion and modernization as well as a high refinery margin in Russia. Increase in refinery throughputs at the Company refineries inRussia was 5.6%, at foreign refineries – 22.0%. Volgograd and Odessa refineries (the latter was put back into operation in April 2008 after modernization) accounted for most of the growth.
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