MOSCOW Oct 18 Gazprom Neft, the oil
arm of Russian state gas firm Gazprom, could slow its
oil output growth compared with the current plan if needed, its
Chief Executive Alexander Dyukov told Rossiya 24 TV.
Gazprom Neft said earlier this month it was not ready to cut
output and had not been asked to do so as the Organization of
the Petroleum Exporting Countries (OPEC) tries to flesh out the
details of a plan to cap global oil production.
"If we talk about Gazprom Neft, then there is of course a
technical possibility to reduce or stabilise production," Dyukov
said in an interview broadcast on Tuesday.
OPEC last month agreed on a modest production cap. Details
of how it can be done by the group's members, and non-OPEC
producers like Russia which may join the process, are expected
to become clearer towards the end of November.
The Russian government has said that it was talking to
domestic oil companies about the OPEC proposals.
According to Dyukov, "temporary output stabilisation" is
being discussed now but it would be an uneasy step for Gazprom
Neft as it planned to continue raising its production in
"If one takes a look at the Russian industry, some companies
are raising output, some of them are reducing it, and we hope
that altogether everything can end up that we somewhat reduce
pace of the production growth, but, however, manage to keep a
small production growth."
(Reporting by Polina Devitt; editing by Adrian Croft)