Gazprom Neft reported a rise in its production of petroleum products during 2023 and outlined plans to continue increasing output in the current year. This update came from Alexander Dyukov, the head of Gazprom Neft, while speaking at Energy Day during the international exhibition and forum titled Russia, as reported by RIA News. Dyukov reflected on the previous year, noting that the company had set ambitious targets and had managed to push refinery throughput higher than initially planned. The remarks underscored a stronger momentum in refining operations and a commitment to improving product mix across the portfolio.
In recounting the year gone by, Dyukov emphasized that the company not only met but exceeded its planned volumes, showcasing disciplined execution across refinery operations. He highlighted the importance of maintaining a steady investment rhythm to support ongoing capacity expansion, quality improvements, and the integration of advanced processing technologies. The executive pointed out that these efforts would help Gazprom Neft increase the production of motor gasoline as well as light petroleum products and diesel fuel, aiming for a more balanced and resilient product slate for domestic and regional markets.
Looking ahead to 2024, the Gazprom Neft leadership reinforced the intention to keep refinery volumes rising and to sustain a robust output trajectory. The statement indicated that the existing investment program would stay at its current level, aligning capital allocation with the goal of enhancing refinery utilization and product yield without triggering excessive risk. The focus remains on improving efficiency, lowering energy intensity, and delivering more value through upgraded processing facilities and modern catalysts that support cleaner fuels and better performance across the product spectrum.
Another key point from the briefing was the stance on fuel exports. Gazprom Neft executives expressed that there is no need to impose additional restrictions on shipments abroad. The current market dynamics suggest sufficient supply, with production volumes exceeding immediate domestic demand. This perspective reflects a measured approach to international trade, acknowledging global market readiness while prioritizing stable supply and compliance with regulatory frameworks across trading partners.
Industry observers have noted that external factors could influence the oil market during 2024, yet the company appears focused on maintaining steady output and prudent expansion plans. The leadership signaled confidence in the resilience of the refining network, underscoring the role of efficiency gains and strategic investments in keeping Gazprom Neft competitive in a volatile energy landscape. While some market voices expect shifts due to factors such as demand cycles and geopolitical developments, Gazprom Neft positions itself to respond with disciplined execution and continuous modernization of its refining capabilities.
Overall, the posture presented by Gazprom Neft centers on sustaining growth through higher refinery throughput, expanding the share of high-value fuels, and leveraging technology to optimize product quality. The company aims to balance output with market needs, support domestic energy security, and maintain a steady rhythm of investment to underpin long-term profitability and operational stability. In this framework, 2024 is viewed as a continuation of a deliberate strategy to enhance refining margins, meet evolving customer requirements, and reinforce the company’s standing in both national and international energy markets.