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Share Price: 515.80
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UPDATE 1-Russia's Rosneft says 2nd-quarter crude output up 0.5 pct

Thu, 11th Aug 2016 07:40

(Adds details, background)

MOSCOW, Aug 11 (Reuters) - Russia's Rosneft, theworld's top listed oil producer by output, said crude oilproduction was 4.11 million barrels per day (bpd) in the secondquarter, up 0.5 percent quarter-on-quarter.

Production at Yuganskneftegaz, its biggest oil producingunit, rose 1.5 percent quarter-on-quarter, helping to liftoverall output, Rosneft said in a statement on Thursday.

Rosneft, which saw its oil production decline 1 percent lastyear to 202.8 million tonnes (4.07 million bpd), recentlyannounced an ambitious drilling programme to reverse the trend.It expects flat oil output in 2016.

Exploration drilling rose 16 percent in the second quarter.First-half crude production dipped 0.1 percent, year-on-year.

Russia pumped 10.85 million bpd in July, while Saudi Arabia,the world's top oil exporter, increased production in July to10.67 million bpd. Russian output figures include gascondensate. (Reporting by Olesya Astakhova; writing by Katya Golubkova;editing by Maria Kiselyova and Susan Thomas)

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BP sees higher Q1 upstream production

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