Bloomberg News

Gazprom Neft to Raise Oil Output 4% to 59 Million Tons This Year

February 03, 2012

Feb. 2 (Bloomberg) -- OAO Gazprom Neft, the oil arm of Russia’s biggest natural-gas producer, plans to boost crude output about 4 percent this year, Chief Executive Officer Alexander Dyukov said.

Annual production is expected to reach to more than 59 million metric tons (1.2 million barrels a day) from 57 million tons last year, Dyukov told reporters today in Moscow.

Net income in 2011 was higher than the previous year and will probably lead to an increase in dividends, Dyukov said.

To contact the reporter on this story: Anna Shiryaevskaya in Moscow at ashiryaevska@bloomberg.net

To contact the editor responsible for this story: Torrey Clark at tclark8@bloomberg.net


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