Russia's Jan-Nov oil well deployment dropped 12%, Kommersant reports
MOSCOW, Jan 9 (Reuters) - Russian oil producers deployed 12.3% fewer new oil wells in the first 11 months of 2024 compared with a year earlier, owing to rising costs, weaker oil prices and an OPEC+ deal to curb output, Kommersant newspaper reported on Thursday, citing sources familiar with the data.
According to energy ministry data, 6,960 new oil wells were launched in Russia during the period, the newspaper said.
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Launches by Russia's second-largest oil producer Lukoil were almost 22% lower, and for the country's largest oil company, Rosneft, down 10.4% to 2,480.
Russia's energy ministry declined to comment.
Russia was expected to produce 518 million-521 million metric tons (10.36 million-10.42 million barrels per day) of oil and gas condensate in 2024 and roughly the same amount in 2025, down from 529.6 million tons in 2023.
(Reporting by Vladimir Soldatkin and Olesya Astakhova; Editing by Kirsten Donovan)