Rosneft sees spike in gas output in 2021
Russia's largest oil company Rosneft increased its gas production by 15.9% in 2021 to 177.4mn m3/day, the company reported on February 11, representing a year-total of 64.7bn m3.
Rosneft attributed the growth to rising yields at the Rospan project in west Siberia, the Zohr field in Egypt and at its Sibneftegaz subsidiary. Production in the fourth quarter averaged 184.1mn m3/d, up from 175mn m3/d in the same period last year.
The company's net income surged to $11.9bn last year, from $2bn in 2020, as revenues increased 46% to $121.1bn and free cash flow expanded to $14.3bn from $6.2bn, thanks primarily to higher oil prices.