OAO Gazprom cut its natural-gas production target for the second time this year because of sluggish domestic and foreign demand.Gazprom, the world’s biggest gas producer, plans to produce 515 billion cubic meters this year, the Russian gas export monopoly said today on its website in a third-quarter report under Russian accounting standards. The Moscow-based company forecast gas output at about 519 billion cubic meters in June, down from a target of 529 billion cubic meters given by Chief Executive Officer Alexei Miller in April.
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Source: Bloomberg
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