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UPDATE 1-Russian Sept oil output stays at low for the year
October 2, 2017 / 8:09 AM / 2 months ago

UPDATE 1-Russian Sept oil output stays at low for the year

    * Output at foreign-led projects fell month-on-month
    * Russian oil output down 3 pct from Oct 2016

 (Adds detail)
    By Vladimir Soldatkin
    MOSCOW, Oct 2 (Reuters) - Russian oil output stood at 10.91
million barrels per day (bpd) in September, unchanged from
August and staying at a low for the year, Energy Ministry data
showed on Monday after output was disrupted by maintenance works
at some sites.
    In tonnes, total output in the month of September reached
44.639 million versus 46.144 million in August, which is one day
longer.
    The daily rate in September and August was the lowest level
of output since it slipped to 10.71 million bpd in August 2016.
It is down 3 percent from the October 2016 level, the benchmark
when a global oil deal was reached on curbing oil production.
    The Organization of the Petroleum Exporting Countries,
Russia and other producers agreed to cut their combined oil
production by almost 1.8 million barrels per day from January in
a bid to reduce a supply glut that had driven down prices.
    Data from the Russian Energy Ministry showed an output fell
by 39 percent in September from August at the oil projects run
by foreign majors under production sharing agreements (PSA). 
    Russian Energy Minister Alexander Novak has said the
ExxonMobil-led         Sakhalin-1 project underwent a
maintenance last month.
    All Russian majors boosted output in September from August. 
    Production by Rosneft          , the world's largest listed
oil producer by output, rose by 1.2 percent to 3.82 million bpd,
while output at Russia's No.2 oil producer Lukoil          
edged up 0.7 percent to 1.64 million bpd in Russia.
    Russian oil pipeline exports in September stood at 4.30
million barrels per day, down from 4.34 million bpd in August.
    Natural gas production was at 53.69 billion cubic metres
(bcm) last month, or 1.79 bcm a day, versus 54.2 bcm in August.

 (Reporting by Vladimir Soldatkin; Editing by Edmund Blair)
  

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