The group’s crude oil output totaled over two million barrels of oil equivalent (boe) in Q1 2007, up 6.5% over the same period in 2006. This was the equivalent of 24.4 million tons, while the group’s subsidiary companies produced 23.4 million tons of crude, up 7.4% over Q1 2006.
Lukoil also revealed that the average flow rate per oil well at the group’s oil fields in Russia increased from 11.15 to 11.25 tons per day in Q1 2007.
The group’s natural and associated gas output available for sale was 3.58 billion cubic meters (bcm) in Q1 2007, which was 14.1% higher than Q1 2006. Natural gas output available for sale was 2.54bcm, up 16.6% over Q1 2006.
Lukoil said that the group refined 13.18 million tons of crude at the company’s owned and third-party refineries, which is the same as in the first quarter of 2006. Throughputs at the company’s own refineries grew by 0.6%, to 12.13 million tons, while throughputs at Lukoil’s own refineries in Russia increased by 5.5%.
In the same period, throughputs at Lukoil’s own foreign refineries decreased due to a planned upgrade of the Burgas refinery and optimization of seasonal capacity utilization of the Ploiesti refinery.
