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Monday, June 22, 2009

Rosneft plans $579m costs cut

06-19-2009 - Upstream OnLine - Russian state-run oil producer Rosneft is planning to cut costs by 18 billion roubles ($579 million) as part of its anti-crisis programme, according to reports. Russian news agency RIA news agency quoted company boss Sergei Bogdanchikov as announcing the move, but did not say whether he was referring to 2009 or the programme that would stretch beyond this year. A Reuters report added that Rosneft had repaid $7 billion in debts in the first half of this year.
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