By Jaime Llinares Taboada
Lukoil PJSC said Tuesday that its hydrocarbon production declined in the third quarter compared with the second quarter as OPEC+ countries agreed to cut output due to the coronavirus pandemic.
The Russian oil company posted production of 1.89 million barrels of oil equivalent a day--excluding the West Qurna-2 project in Iraq--for the three months to Sept. 30, down from 1.98 million barrels in the second quarter.
"Oil production dynamics were driven by the OPEC+ agreement concluded in April 2020, which led to limitations on oil production by the group in Russia and at certain international projects," the company said.
Oil production declined 3.0% on the quarter, and gas output fell 6.7% amid lower Chinese demand for Uzbekistan supply.
Meanwhile, Lukoil's refinery throughput increased 9.8% on quarter to 14.8 million metric tons.
Shares in Moscow at 1110 GMT were up 1.3% at 4,813.5 Russian rubles.
Write to Jaime Llinares Taboada at jaime.llinares@wsj.com; @JaimeLlinaresT
(END) Dow Jones Newswires
11-10-20 0637ET