TNK International posts EBITDA forecast

Earnings Before Interest, Tax, Depreciation and Amortization (EBITDA) of the TNK International will amount to $2bn-2.5bn in 2002, Vice President of Tyumen Oil Company Iosif Bakaleynik declared at a news conference organized by RBC today. According to him, the company's forecast for 2003 is that this figure will be $1.8bn, in accordance with the expected world price for Brent oil at $18 per barrel, which is stipulated in the budget. The vice president expressed hope that the 2003 EBITDA would be comparable to the 2002 figure under more favorable price conditions.

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