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Russia’s Gazprom Neft ready to raise oil output under OPEC+ deal, CEO says

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A board with the logo of Gazprom Neft oil company is seen at a fuel station in Moscow, Russia. Photo: Reuters
A board with the logo of Gazprom Neft oil company is seen at a fuel station in Moscow, Russia. Photo: Reuters
By Reuters
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MOSCOW: Gazprom Neft is ready to raise oil output from April under the OPEC+ agreement, the head of the Russian oil producer said on Tuesday.

The company does not plan to reduce oil refining in 2025 after a record refining volume in 2024, Alexander Dyukov, the CEO, added.

Gazprom Neft has been adapting to Western sanctions and plans to increase investments in 2025, Dyukov said.

The market price for Urals oil in roubles is “quite acceptable” for the company, he added.

OPEC+ OPEC oil output Gazprom Neft

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