TNK-BP to Boost 2011 Spending, Output, Moving Closer to Lukoil
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TNK-BP will increase output and spending next year as BP Plc’s venture with a group of billionaires moves closer to overtaking OAO Lukoil as the second-largest oil producer in Russia.
Production will increase as much as 1.7 percent next year, to reach 645 million to 647 million barrels of oil equivalent after rising 3 percent to 636 million this year, TNK-BP Executive Vice President Sergei Brezitsky told reporters today in Tyumen, Siberia. The numbers don’t include the Moscow-based company’s Slavneft unit with OAO Gazprom Neft, he said.