TIDMLKOD
RNS Number : 8687X
PJSC LukOil
15 August 2018
LUKOIL REPORTS PRELIMINARY OPERATING DATA
FOR THE SECOND QUARTER AND FIRST HALF OF 2018
In the first half of 2018 LUKOIL Group's hydrocarbon production
excluding West Qurna-2 project was 2,287 thousand boe per day,
which is 3.2% higher year-on-year. The increase was driven by the
development of gas projects. In the second quarter of 2018
production was 2,289 thousand boe per day and flat
quarter-on-quarter.
Hydrocarbon production, thousand boe per day
2Q 2018 1Q 2018 6M 2018 6M 2017
-------- -------- ------------------------------ -------- --------
Total (excluding West-Qurna 2
2,289 2,286 project) 2,287 2,217
-------- -------- ------------------------------ -------- --------
Oil production excluding West Qurna-2 project in the first half
of 2018 was 42.1 million tonnes, including 21.1 million tonnes
produced in the second quarter, which is flat quarter-on-quarter in
average daily terms. Starting January 2017 LUKOIL Group's oil
production volumes and dynamics are mainly defined by the external
limitations of Russian companies' production volumes.
Oil production, thousand tonnes
2Q 2018 1Q 2018 6M 2018 6M 2017
-------- -------- ----------------------------------- -------- --------
Total (excluding West-Qurna 2
21,135 20,926 project) 42,061 42,703
20,253 20,005 Russia 40,258 40,816
20,096 19,847 Subsidiaries 39,943 40,298
157 158 Share in affiliates 315 518
882 921 Outside of Russia 1,803 1,887
457 490 Subsidiaries 947 1,013
425 431 Share in affiliates 856 874
Compensation oil from West Qurna-2
318 451 project 769 887
21,453 21,377 Total 42,830 43,590
-------- -------- ----------------------------------- -------- --------
Active development of the priority projects continued. The third
well was launched in June 2018 at the second development stage of
the V. Filanovsky field, which allowed to reach sustainable daily
plateau production level equivalent to 6 million tonnes of oil per
year. In the first half of 2018 production at the field increased
by 43% year-on-year, to 2.9 million tonnes.
The drilling of the first production well started at the second
development stage of the Yu. Korchagin field and was completed in
July 2018. The initial well flow amounted to 500 tonnes of oil per
day.
Further development of the Yaregskoe field and Permian reservoir
of the Usinskoe field allowed to increase high viscosity oil
production in the first half of 2018 by 35% year-on-year, to 2
million tonnes.
Oil and gas condensate production at the Pyakyakhinskoe field in
West Siberia increased by 7% year-on-year, to 0.8 million
tonnes.
The share of the abovementioned five projects in the LUKOIL
Group's oil production excluding West Qurna-2 project amounted to
14% in the first half of 2018, 3 percentage points up
year-on-year.
Gas production, million cubic meters
2Q 2018 1Q 2018 6M 2018 6M 2017
-------- -------- ----------------------------------- -------- --------
8,127 7,999 Total 16,126 13,411
4,456 4,496 Russia 8,952 8,976
4,431 4,473 Subsidiaries 8,904 8,928
25 23 Share in affiliates 48 48
3,671 3,503 Outside of Russia 7,174 4,435
3,493 3,343 Subsidiaries 6,836 4,027
178 160 Share in affiliates 338 408
-------- -------- ----------------------------------- -------- --------
In the first half of 2018 LUKOIL Group's gas production was 16.1
billion cubic meters, which was 20% higher year-on-year. In the
second quarter of 2018 gas production was 8.1 billion cubic meters,
which is flat quarter-on-quarter in average daily terms.
The main driver of gas production growth was the successful
development of projects in Uzbekistan. Due to the launch of new gas
treatment facilities, production at Kandym and Gissar projects in
the first half of 2018 doubled year-on-year to 6.1 billion cubic
meters.
Refinery throughput, thousand tonnes
2Q 2018 1Q 2018 6M 2018 6M 2017
-------- -------- ------------------------------------------- -------- --------
16,734 16,113 Total for LUKOIL Group refineries 32,847 32,590
10,668 10,655 Russia 21,323 20,953
6,066 5,458 Outside of Russia 11,524 11,637
5,340 4,549 Oil processing 9,889 10,478
726 909 Refined products processing 1,635 1,159
1,631 1,660 Third party refineries abroad 3,291 3,074
-------- -------- ------------------------------------------- -------- --------
In the first half of 2018 throughput volumes at LUKOIL Group's
refineries increased by 0.8% year-on-year, to 32.8 million tonnes.
In the second quarter of 2018 refinery throughput was 16.7 million
tonnes, 3.9% higher quarter-on-quarter. Refinery throughput volumes
in Russia were flat quarter-on-quarter and amounted to 10.7 million
tonnes. Throughput at European refineries increased by 11%
quarter-on-quarter, which was attributable to scheduled maintenance
works at refineries in Bulgaria and Italy in the first quarter of
2018.
Note:
LUKOIL will release its Interim Consolidated Financial
Statements for the second quarter and the first six months of 2018
prepared in accordance with IFRS and MD&A on August 29,
2018.
The information in this press release is an estimate of the
LUKOIL Group's results for the second quarter and the first six
months of 2018 and therefore constitutes forward-looking
statements. This information is preliminary and based on
information available at the date of this document, and may be
revised after statistical, financial, tax and accounting statements
become available. The information on the LUKOIL Group's operational
results in this press release are subject to many external factors
which may cause the actual results to differ materially from those
expressed or forecasted in this press release for the second
quarter and the first six months of 2018. The LUKOIL Group assumes
no obligation to update or alter its forward-looking statements,
whether as a result of new information, subsequent events or
otherwise, except to the extent required by applicable law.
This document does not constitute or form part of an invitation
or inducement to engage in investment activity with, or any offer
or invitation to sell or issue, or any solicitation of any offer to
purchase or subscribe for, any securities of, the LUKOIL Group, nor
shall any part of it nor the fact of its distribution form part of
or be relied on in connection with any contract or investment
decision relating thereto, nor does it constitute a recommendation
regarding the securities of, or any investment in, the LUKOIL
Group.
Information about the Company:
PJSC "LUKOIL" is one of the largest publicly traded, vertically
integrated oil and gas companies in the world in terms of proved
hydrocarbon reserves and production; and the second largest
producer of crude oil in Russia. Established in 1991, the Company
currently operates in more than 30 countries with core upstream
assets located in Russia. The full production cycle includes oil
and gas exploration, production and refining; production of
petrochemicals and lubricants; power generation; marketing and
distribution. The Company's shares are listed in Russia on Moscow
Exchange under the ticker "LKOH" and depositary receipts are listed
on the London Stock Exchange under the ticker "LKOD".
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
STREAPPSFLEPEEF
(END) Dow Jones Newswires
August 15, 2018 05:00 ET (09:00 GMT)
Pjsc Lukoil (LSE:LKOH)
Historical Stock Chart
From Apr 2024 to May 2024
Pjsc Lukoil (LSE:LKOH)
Historical Stock Chart
From May 2023 to May 2024