Bashneft increased production by 12.3% in the first quarter of 2016

Olesya Seregina

UFA, 19 April 2016. /Bashinform News Agency, Olesya Seregina/. In the first quarter of 2016, PJSOC produced 5,286 thousand tons of oil, which is 12.3% more than in the first quarter of 2015, the company’s press-service informs. Thus average daily production reached 58.1 thousand tons per day.

Production growth was driven mainly by Bashneft-Polyus and Burneftegaz, which accounted for 20.4% of total oil production as against 12.6% in the first quarter of the last year. Bashneft-Polyus increased production by 68.1% year on year (to 511 thousand tons), while Burneftegaz boosted production by 96.4% (to 569 thousand tons).

It is marked that production growth was also supported by a 2.2% increase in oil production at brownfields, mainly due to commissioning of new wells and highly efficient geological and engineering operations in Bashkortostan, where production growth in the first quarter of 2016 amounted to 2.7%.

As reported by Bashinform News Agency among Russian oil companies Bashneft is an undisputed leader in terms of oil production growth in the first quarter of 2016.

The Bashneft’s refining complex processed 4,732 thousand tons of crude oil in the first quarter of this year, which is 0.4% more than in the same period in 2015. The output of commercial products totaled 4,379 thousand tons, which is comparable to the level reached in the first quarter of 2015.

The gasoline production increased by 6.7% year on year to 1,293 thousand tons; the output of fuel oil decreased by 10.9% to 630 thousand tons, while production of vacuum gas oil was terminated. As a result, in the first quarter of 2016, an average refining depth increased to 86.2% as against 83.7% in the first quarter of 2015, while the share of light products grew to 68.9%.

Besides, in the first quarter of 2016, 100% of motor gasoline (1,118 thousand tons) and diesel fuel (1,871 thousand tons) produced by Bashneft met the Euro 5 standard.

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