AK&M's 1513th Bulletin on Oil and Gas Production and Refining has been published

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AK&M 13 March 2023 14:14

The 1513th issue of the bulletin "Branches of the Russian economy: production, finance, securities. Oil and Gas Production and Oil Refining" of the AK&M News Agency.

Neutral price dynamics was observed in the oil market in February. Brent crude oil prices moved within the conditional range of $80-90 per barrel, dropping to the lower limit of the specified corridor by the beginning of March. However, according to the results of the first week of March, oil regained its previously lost positions and is again trading at about $85 per barrel. The news background for commodity assets remained mixed, but with demand from China remaining at a reduced level, the current price level looks balanced for the market.

In January 2023, oil and gas condensate production in Russia amounted to 46 million tons, a decrease of 1% compared to the level of January 2022. 42.1 million tons of oil without gas condensate were produced, which is 2.5% and 0.5% less than in January 2022 and December 2022, respectively. Overall, crude oil production in Russia has stabilized over the past eight months. At the same time, Russneft increased oil and condensate production in 2022 by 4.5%, to 6.456 million tons.

In January 2023, gas production in Russia amounted to 52.2 billion cubic meters, a decrease of 13.5% compared to the level of January 2022. In general, gas production in the Russian Federation in January 2023 amounted to 61 billion cubic meters, which is 1.8% more than in the previous month of the current winter season. At the same time, LNG production in Russia in January decreased to 2.6 million tons, which is 13% less than in January 2022, and 7.7% less than in December 2022. But according to estimates published in the press, natural gas production in Russia decreased in January 2023 by 10.7% year-on-year, to 62.7 billion cubic meters. m. The bulk of the decline fell on Gazprom, which has not published production figures since the beginning of the year.

Oil exports from Russia in 2022 reached 242 million tons, an increase of 7.6%. Such updated data was provided by Deputy Prime Minister of Russia Alexander Novak. And already in January of this year, the volume of crude oil transshipment in Russian seaports increased by 5% compared to the same indicator last year.

Gazprom Nedra intends to build a liquefied natural gas processing plant. The project with a total cost of 200 billion rubles is planned to be implemented in the Boguchansky district of the Krasnoyarsk Territory, including the construction of a pipeline transport for the supply of raw materials.