TNK forecasts 2002 net profit

The Tyumen Oil Company (TNK) forecasted its net profit at some $500m in 2002. A corresponding statement was made by First Vice President of the company Iosif Bataleynik after a conference arranged by an association of managers. The company's revenues are expected to reach $5bn. At present, TNK is preparing its financial statements for the first nine months of 2002 in accordance with US GAAP standards, which are to be published at the end of December. The 2002 business results will be published in May 2003.

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