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20 August, Sunday

Ufa   °

Bashneft has increased extraction and reduced processing

Business

UFA, 20 October 2015. /Bashinform News Agency, Arthur Basyrov/.

PSJOC Bashneft increased extraction and reduced oil refining compared with the last year. This is evidenced by reporting data for the first nine months of this year.

According to preliminary operating results for the third quarter of 2015 it was produced 14.6 million tons of oil, which is 12.1% higher than in the corresponding period of the last year. The company attributed this increase in extraction levels to new assets in Timan-Pechora and West Siberia. They provided for 17.4% of the total oil production in the third quarter of 2015.

The report shows a decrease in performance in the company's refinery complex in the first nine months. The processing volume dropped to 14.3 million tons, which is 12.3% less than in the corresponding period of 2014. According to Bashneft in the current macroeconomic situation and fiscal conditions this enables the company to maximize the value of its product mix by increasing the output of light products.

Gasoline production increased by 16.7% and reached 1.3 million tons in 2015.

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