Lukoil Hydrocarbon Production Rises 2.3% in First Nine Months

By Oliver Griffin Features Dow Jones Newswires

Lukoil PJSC (LKOH.MZ) said Tuesday that hydrocarbon production for the first nine months rose 2.3% from the previous year, excluding production from its West Qurna 2 project in Iraq.

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Production in the nine-month period ended Sept. 30 rose to an average of 2.2 million barrels of oil a day, the Russia-based company said, attributing the growth to the development of its gas projects.

Meanwhile, third-quarter gas production increased 4.4% from the second quarter to stand at 7.3 billion cubic meters. Output was boosted by the launch of gas facilities at the Pyakyakhinskoe field in Russia in January and of main production facilities at the Gissar project in Uzbekistan, where production more than doubled quarter-on-quarter.

Refinery throughput--a measurement of capacity--for the first nine months of the year increased 1.2% to 49.9 million tons from a year earlier, the company said.

Lukoil will release its interim financial results on Nov. 29.

Shares at 1345 GMT were up 29%, or 9.50 roubles, at 3335.50 roubles.

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Write to Oliver Griffin at oliver.griffin@dowjones.com

(END) Dow Jones Newswires

November 14, 2017 09:32 ET (14:32 GMT)