Rosneft forecasts 2002 profits

In 2002, balance profits of the Rosneft oil company will amount to RUR22.5bn to RUR23bn (about $707.73m to $723.45m), Rosneft's President Sergey Bogdanchikov stated at a press conference in Moscow today. According to him, this year's revenues will be over $4.5bn. As for the production growth rate, Bogdanchikov pointed out that in 2003, it would be 7 to 8 percent against 2002. Oil procession will also gain 7 to 8 percent as compared to this year's level and will reach 8.2 million tons.

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