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Gazprom Boosts Spending

Gazprom’s board approved a 13 percent increase in this year’s investments, from an initial plan, to cover transportation projects and developments in Russia’s east, even as budget revenues fall, the company said Thursday.

Gazprom plans to spend 905.2 billion rubles ($30 billion), which includes 751.8 billion rubles for capital expenditures, but cut its budget revenue estimate for the year to 3.64 trillion rubles.

(Bloomberg)


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