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TNK Will Increase Output

By The Moscow Times

TNK-BP said Tuesday that it plans to boost output up to 1.7 percent next year as it boosts spending, with production probably reaching 645 million to 647 million barrels of oil equivalent next year after rising 3 percent to 636 million this year, and investments increasing 15 percent to $5 billion next year.

The company also said it plans to complete its acquisition of Vietnamese and Venezuelan assets from BP in the first quarter, chief operating officer Bill Schrader said. 

(Bloomberg)

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