Alliance Oil Boosts Output 27% in Eight Months

Alliance Oil, an independent oil company with vertically integrated operations in Russia and Kazakhstan, boosted oil production 26.7% in the first eight months of 2012 year-on-year to 13.3 million barrels, the company said in an operational update.

Refining rose 7% to 19.2 million barrels of crude.

Daily oil production in August amounted to 53,473 barrels of oil per day and refining totaled 84,809 bopd.

The company earlier reduced its 2012 production forecast to 55,000-60,000 bopd from 63,000-69,000 bopd previously.

Alliance produced 17.9 million barrels of oil in 2011, 12% more than in 2010.

Alliance Oil Company Ltd was formed from the merger of Russian oil company Alyans and Swedish West Siberian Resources (WSR) in 2008. It operates the Khabarovsk refinery and controls a network of filling stations in Khabarovsk and Primorye territories, Amur Region and the Jewish Autonomous Region. It produces oil in a number of Russian regions and in Kazakhstan.


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