Crude oil output of Lukoil Group was 1.96 million barrels of oil per day in 2007, up 1.6%, compared to 1.93 million barrels of oil per day in 2006.
Lukoil said that production growth rates were impacted by the sale of a 50% stake in Caspian Investments, engaged in hydrocarbon exploration and production in Kazakhstan, in the end of April 2007 as well as by the limitations placed by Gazprom on natural gas intake between June and October due to warm winter of 2006–2007.
Throughputs at the company’s own refineries in Russia grew by 7.7% year-on-year, to 42.55 million tons, due to Lukoil refining capacity expansion and modernization as well as a high refinery margin in Russia, the company said.
