Yukos reports oil output up in Q2

Aug 07, 1999 02:00 AM

Yukos, Russia's second-largest oil producer, announced on August 2 that it had produced 10.8 million metric tons of crude oil in the second quarter of 1999.
In the same period of last year, by contrast, the company produced 10.65 million metric tons of oil.
Yukos further stated that it had produced 3.6 million metric tons of oil in the month of June alone, or 876,000 barrels per day. It did not provide a comparative figure from June of 1998 but said that company managers wanted to see output levels rise to 949,000 bpd by the end of the year.
If production can be sustained at this level, Yukos would be able to extract 47.45 million metric tons of oil per year. The company produced 44.8 million metric tons of oil in 1998, down on the 1997 figure of 46.5 million metric tons.

Source: NewsBase
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