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  Thursday, March 4, 2021
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Rosneft plans to increase production by 7% in 2006
Russia's largest state-owned oil company Rosneft plans to increase production by 7% in 2006, company CEO Sergei Bogdanchikov said Thursday. Experts said the company was expected to produce roughly 75 million metric tons of oil this year, mainly thanks to recently acquired Yuganskneftegaz, once the core production unit of embattled oil major Yukos. Bogdanchikov said Yuganskneftegaz had been "successfully integrated into the company". He also said Rosneftegaz, Rosneft's affiliate established to acquire 10.7% of Gazprom shares for the state and secure the controlling share block in the energy giant for it, had made a third and final payment of $5.7 billion to Gazprom. The deal to increase the state's stake in Gazprom was necessary to lift the "ring fence" from around its shares to allow foreigners to buy stock.
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