Russia's five largest oil companies will fail to meet next year's crude production target for the Junin 6 project with Petroleos de Venezuela, said two officials at different companies with knowledge of the matter.
The Gazprom Neft-led group may produce no more than 10,000 barrels a day next year, the people said. Rosneft, LUKoil, TNK-BP and Surgutneftegas are partners.
In October, Deputy Prime Minister Igor Sechin pledged the Russian group, which owns 40 percent of the Junin 6 venture, would begin output in May and the field would produce 50,000 barrels a day by the end of next year.
(Bloomberg)
A Message from The Moscow Times:
Dear readers,
We are facing unprecedented challenges. Russia's Prosecutor General's Office has designated The Moscow Times as an "undesirable" organization, criminalizing our work and putting our staff at risk of prosecution. This follows our earlier unjust labeling as a "foreign agent."
These actions are direct attempts to silence independent journalism in Russia. The authorities claim our work "discredits the decisions of the Russian leadership." We see things differently: we strive to provide accurate, unbiased reporting on Russia.
We, the journalists of The Moscow Times, refuse to be silenced. But to continue our work, we need your help.
Your support, no matter how small, makes a world of difference. If you can, please support us monthly starting from just $2. It's quick to set up, and every contribution makes a significant impact.
By supporting The Moscow Times, you're defending open, independent journalism in the face of repression. Thank you for standing with us.
Remind me later.
