Russia’s Gazpromneft to increase 2016 output by 5%

*Gazprom neft.

*Gazprom neft.

11 June 2016, Saint-Petersburg — The head of Gazpromneft, the oil-producing unit of Russian gas giant Gazprom, said on Friday the company would increase its 2016 hydrocarbon output by 5 percent to 85-86 million tons of oil equivalent.

Of this, the firm will extract 59-60 million tons of oil in 2016, Gazpromneft head Alexander Dyukov told journalists.

He also said OPEC is destabilising the global oil market by increasing production.

(Reporting by Olesya Astakhova, writing by Denis Pinchuk, editing by Jack Stubbs

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