Rosneft Has Reduced the Cost of Hydrocarbon Production in Russia
Rosneft, thanks to strict cost control in the first quarter of 2023, reduced operating costs for hydrocarbon production in Russia by 5% qoq to less than $3 per barrel of oil equivalent, the company said.
“The company is systematically working to reduce operating costs to a minimum level, despite the increase in tariffs of natural monopolies. Thanks to strict cost control in the first quarter of 2023, specific operating costs for hydrocarbon production and oil refining in the Russian Federation decreased by 5% and by 12. 7%, respectively, quarter-on-quarter,” the message says, citing the words of the head of the company, Igor Sechin.
“In dollar terms, operating expenses for hydrocarbon production in the first quarter of 2023 amounted to less than $3 per barrel of oil equivalent, which is in line with the goal set in the company’s strategy,” Rosneft said.
