Bashneft extracted 15,4 million tons of oil, processed 20,8 million tons in 2012

Elvira Latypova

15 437 thousand tons of crude oil (112 690 thousand barrels) were produced at Bashneft oil-fields in 2012, with 2,2% increase year-on-year. Average daily crude oil production amounted to 42,2 thousand tons per day.

“Oil production growth resulted from more efficient interventions and advanced technologies used for drilling new high-rate horizontal wells,” Bashneft reports.

Bashneft Refineries in Ufa processed 20 773 thousand tons of crude oil in 2012 that is a 1,5% decrease compared with 2011 results. Average depth of refining amounted to 84.9%. It is just slightly below the 2011 figure, despite the regular overhaul held at Ufa Refinery in the second quarter. In the meantime average Nelson index grew to 8,55 from 8.3 after the Delayed Coker expansion project was completed at Bashneft-Ufaneftekhim with the capacity increase from 1,2 mln tons to 1,6 mln tons per year.

Light product yield remained at 59,7% level. The share of Euro-3 gasoline decreased from 73% to 20,5%. The share of Euro-4 gasoline and higher standard gasoline rose to 75,1% compared with 12,8% in 2011.

The share of Euro-4 diesel fuel in the product portfolio decreased to 10,5% from 16,7% in 2011 while the share of Euro-5 diesel fuel grew from 5% to 13%.

Thus, by the end 2012 Bashneft retained its leading position in Russian O&G industry, not only maintained the optimal level of production but provide oil production growth.

Since July 2012, Bashneft has been selling only high-octane gasoline and Euro-5 diesel fuel through its own retail network.

#bashneft #annual results #oil recovery

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