On Air Now

Listen

Listen Live Now » 92.9 FM Lansing, Michigan

Weather

Current Conditions(Holt,MI 48842)

More Weather »
59° Feels Like: 59°
Wind: SSE 5 mph Past 24 hrs - Precip: 0”
Current Radar for Zip

Tonight

Cloudy 59°

Tomorrow

Mostly Cloudy 82°

Sat Night

Scattered Thunderstorms 68°

Alerts

Rosneft sees 2013 capex at $20 billion post TNK-BP deal

MOSCOW (Reuters) - Rosneft expects capital expenditure of $20 billion this year following the acquisition of TNK-BP , Rosneft's Chief Executive Officer Igor Sechin said on Tuesday.

The previous guidance for Rosneft's capex this year was $15 billion, while TNK-BP expected it at to be around $6 billion.

Sechin told investors during a presentation that the company is able to reduce spending following the deal to acquire TNK-BP.

(Reporting by Vladimir Soldatkin; editing by Megan Davies)

Comments