Plans to more than double exports by 2025 to 31 mil mt/year Russia’s Gazprom Neft said Wednesday that it increased its crude output last year due to higher production from its Arctic projects SeverEnergia, Prirazlomnoye and Novoport as well as continued growth at projects in the Orenburg region and Iraq. As Russia’s fourth largest crude producer, Gazprom Neft’s steadily increasing crude output played a role in boosting overall Russian output to post-Soviet record high levels last year. The company’s crude output rose by 6.9% to 55.67 million mt, or around 1.1 million b/d in 2015, according to financial and operational results for the fourth quarter and 2015. Whether this growth trend will continue remains unclear, with low oil prices persisting, and Russian officials considering […]