OREANDA-NEWS. Gazprom Neft positively assessed the decision to exclude gas condensate from the Russian quota as part of a deal to reduce OPEC + oil production; the company will hold the impact of this decision on production later. This was told to journalists by the head of Gazprom Neft Alexander Dyukov on the sidelines of the congress "Innovation Practice: Science plus Business".

“This is the right decision. We can make an assessment a little later”, he said. Russia's new goal of reducing OPEC+ oil production in the first quarter of 2020 will be 10.326 million barrels per day instead of 11.191 million barrels per day, where condensate was taken into account.

Russian Energy Minister Alexander Novak said that the OPEC+ decision would eliminate condensate from the agreement, which would save Russia from taking into account its growing production, the deal would focus only on oil.

According to him, from January 2020, Russia will reduce an additional 70 thousand barrels per day. He emphasized that in November 2019, according to the new method, without taking into account condensate, Russia would have exceeded its quota, having reduced production not actually 228 thousand, but 232 thousand barrels per day to the level of October 2018.