Gazprom Neft CEO Alexander Dyukov
Gazprom Neft targets Russia’s second place spot
The oil producer is threatening to displace Lukoil as next in line after Rosneft
Russia’s state-controlled Gazprom Neft has achieved a strategic goal set ten years ago, more than doubling its oil output and reaching annual production of more than 100mn t oe (2mn bl/d oe), according to the firm’s CEO, Alexander Dyukov. That leaves it rapidly closing in on peer Lukoil as the country’s second-largest crude producer by volume. And Gazprom Neft is not stopping there. The company plans to increase production by c.10pc in 2022 and aims for further growth over the next few years through developing new greenfield sites and working on improving existing fields, Dyukov promises. “It is important that this growth has been achieved organically,” he says. “There were no new acquisitio
Also in this section
1 April 2026
Golden Pass’s startup offers QatarEnergy a timely boost but may also force a difficult choice between honouring disrupted contracts and capitalising on soaring spot LNG prices
1 April 2026
It is not a case of if or when, but the length and magnitude of economic damage from elevated oil prices
1 April 2026
The US-Iran conflict demonstrates the need for diversification in several senses of the word. It also exposes the limits of Washington applying pressure on major oil and gas producers it considers geopolitical adversaries
31 March 2026
Disappointing results in its bidding round are a reality check for Libya, and global exploration generally
