Rosneft increased its average daily oil production (including its subsidiaries' output and the share in its affiliates' production) by 4.6 percent to 2.121m barrels, according to the Russian oil company's statement under U.S. GAAP released today. Similarly, organic oil production growth amounted to 3.3 percent. Oil product output jumped 21 percent to 46.44m tonnes in 2008 compared to a year earlier. The company attributes the increase to greater amounts of oil processed at the Tuapse and Komsomolsk oil refineries, as well as the acquisition of five large refineries in the second quarter of 2007. Meanwhile, retail oil product sales surged 1.8 times to 4.06m tonnes in 2008.
The 4.7-percent decrease in oil production to 2.127m barrels per day in the fourth quarter of 2008 may be traced to the sale of the company's 50-percent stake in Tomskneft in late 2007.