TNK-BP 9-Month Spending on Orenburg Output Rises to $1 Billion

Nov. 23 (Bloomberg) -- TNK-BP, the Russian joint venture BP Plc and a group of billionaires are selling to OAO Rosneft, boosted investment 6 percent in the Orenburg region through September.

Investment in output from one of Russia’s oldest producing regions increased to 31.9 billion rubles ($1 billion) from 30 billion rubles in the same period the previous year, according to a statement on the company’s website.

To contact the reporter on this story: Stephen Bierman in Moscow at sbierman1@bloomberg.net

To contact the editor responsible for this story: Will Kennedy at wkennedy3@bloomberg.net