Tyumen Oil Company Reports Total Volume Of Its Loans

The total volume of loans of Tyumen Oil Company (TNK) amounted to $2.5bn as of September 2001, the company's first vice-president Iosif Bakaleinik announced at a meeting with journalists. He noted that the volume of loans in the total volume of the TNK assets is the largest among all Russian companies. In addition, Bakaleinik reported that up to 50 per cent of TNK exports, including oil and oil products, are used as a pledge for credits.