Rosneft shows an increase in oil production in the second quarter

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Russia’s largest oil company Rosneft reported on Thursday a 0.5-percent increase in the production in the second quarter. The Oilprice.com explains that the giant has also increased its drilling activity which affected the result output data.

In the second quarter the production in Rosneft’s key brownfield asset Yuganskneftegaz rose 1.5 percent from the previous period and, as a result, the company showed an increase up to 4.11 million barrels per day in April to June.

Last year Rosneft reported a 1-percent increase in hydrocarbon output annually by 5.159 million bpd. At the same time liquids production dropped 1 percent.

The oil giant operational performance for the second quarter has been issued right after the news of the country’s government banning any deals between the company’s shareholders until the privatization. Most of the industry experts came to an opinion that the ban was targeting the only non-Russian shareholder – BP. According to Economy Minister Alexey Ulyukaev, the privatization may not take place this year.