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Rosneft's daily crude output up 15.5% to 2.1 mln bbl in 1H08

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MOSCOW, August 29 (RIA Novosti) - Rosneft [RTS: ROSN], Russia's largest oil company, reported Friday a 15.5% increase in daily crude output to 2.1 mln bbl of oil in the first half of 2008 from 1.8 mln bbl in January-June 2007.

The performance enabled state-owned Rosneft to remain the global leader in terms of growth in crude production.

The company's oil product output totaled 22.9 million tons (168.4 million bbl) in January-June 2008, up 59.2% against the first half of 2007.

"This substantial increase is explained by organic growth in throughput at the Tuapse and Komsomolsk refineries," the company said on its website.

The oil producer said its natural gas output decreased 19.1% year-on-year to 6.25 billion cubic meters in the first half of 2008.

The company sold 5.2 billion cubic meters of natural gas in the reporting period, down 6% against the same period of last year. Its average gas price increased 47% year-on-year in the first six months of 2008.

Rosneft emerged as Russia's largest crude producer after taking over most of the assets of bankrupt oil firm Yukos through liquidation auctions in 2007.

In 2007, Rosneft boosted oil output 25% year-on-year to 100.9 million metric tons (739 million barrels).

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