Ruspetro Rises Most in Eight Weeks After Boosting Oil Extraction
Ruspetro Plc (RPO), a Russian oil explorer, rose the most in eight weeks in London trading after reporting a 40 percent increase in oil and condensate output and reiterating its year-end target.
Ruspetro climbed as much as 8.4 percent, the biggest intraday gain since Sept. 13, and traded up 7.4 percent at 107.4 pence as of 8:38 a.m. London time.
Production has reached 7,853 barrels a day, up from 5,600 barrels a day on July 9, the Moscow-based company said today in a regulatory filing. Ruspetro, which operates at western Siberia’s Krasnoleninsk field, is on schedule to pump 10,400 barrels a day by the end of the year.
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