Gazprom said it will increase oil production by up to 5% next year.
The estimate it less than it had intended before Russia joined a deal to cut global production with OPEC.
Chief executive Alexander Dyukov said the plan prior to the deal had been to grow output “more aggressively”.
He said Gazprom expected to produce 85.8million tonnes of hydrocarbons this year, while net profit is expected to increase significantly this year.
The company is expected to reach production levels of 150,000 barrels per day at its Iraqi Badra field in 2018, not 2017.
