Add to favorite
Subscribe to our Newsletters Subscribe to our Newsletters Get Daily Updates RSS

$23 bln Investment Plan Mulled by Gazpromneft
21.12.2012 23:43
$23 bln Investment Plan Mulled by Gazpromneft
Photo Credit:

According to Aleksey Yankevich,  deputy CEO in charge of economy and finance, the company will splurge out more than $23 billion for investment projects, the bulk of which will be spent on new exploration and development projects and upgrade of existing refineries.

The free cash flow is likely to go below zero, with hefty loans expected to be taken out, according to the blueprint which is yet to be adopted by its board of directors dominated by representatives of its main shareholder Gazprom.

Among Gazpromneft's targets for 2020 are the $10 billion cash flow, up from current $1.5 billion, an output worth 100 million tons, up from 57.3 million tons, refining capacity increase from 40.5 million tons to 70 million tons.

Author: Mikhail Vesely

Tags: Gazpromneft Russian oil Russian economy Gazprom  

Next Previous

You might also find interesting:

Comment on our site

RSS   twitter      submit

Altai Balms  Salt Lakes  Farming  Russian science  Russian Cinema  Early Man Site   Russian oil and gas companies  Vegetables  Concerts in Saint Petersburg  Russian scientists  Nikolay Beketov  Tragedy  Russian tourists  Valeriya Guy Germanika  Russian Bears  Russian economy  Petrikirche Cathedral  Vandalism  Kabardino-Balkaria  Bikers  Archaeology  contemporary art  Vladimir Mayakovsky  State Corporations in Russia  Gazprom  Moscow State University  Aleksandr Nevsky  Delphic Games  Moscow  St. Petersburg  Double deck trains  US sanctions  buy Russian railways tickets  Russian business  Russian tourism  Old Russian Literature  environment  Russian laws  Mercedes-Benz Fashion Week Russia  Smolensk  Russian Arts and Crafts  Runet  Exhibitions in Moscow  Heroism   restrictions  Single Ticket  Festivals in Moscow  investment  airport transfer in Russia  Visa  

Travel Blogs
Top Traveling Sites