The decrease is attributed to larger production cuts under the new OPEC+ Agreement
Rosneft says its 3Q 2020 hydrocarbon production amounted to 4.90 mmboed (60.8 mmtoe), a 3% decrease QoQ. 9M 2020 average daily hydrocarbon production constituted 5.23 mmboed (193.5 mmtoe), a 9.5% decrease YoY.
The company’s 9M 2020 liquids production amounted to 4.19 mmbpd (155.0 mmt), which is a 10.3% decline YoY due to larger production cuts under the new OPEC+ Agreement and the consequences of the COVID-19 pandemic.
Rosneft is the leader of Russia’s petroleum industry and the world’s largest publicly traded petroleum company. Rosneft activities include hydrocarbon exploration and production, upstream offshore projects, hydrocarbon refining, and crude oil, gas and product marketing in Russia and abroad.