3 Nov 2010 17:49

Rosneft boosts 2010 oil-extraction growth forecast to 7%-7.5%

MOSCOW. Nov 3 (Interfax) - Russian oil company Rosneft has increased its projection for how much its oil production will growth this year from 5.5%-6% to 7%-7.5%, the company said.

Rosneft expects to extract upwards of 119 million tonnes of oil.

"According to preliminary information, total production in 2010 will increase by 7%-7.5% in comparison with the previous year and will top 119 million tonnes," Rosneft said.

The company said that it had produce 100 million tonnes of oil as of November 3 since the start of 2010. This figure tops Rosneft's production plan by 1.384 million tonnes.

Rosneft said in October that it had raised its forecast for production growth from 4.5% to 5.5%-6%.

Rosneft's chief Eduard Hudainatov earlier announced that the company would produce 118 million tonnes of oil.

The Fuel and Energy Dispatch Center (TsDU TEK) reported that Rosneft produce 93.458 million tonnes of oil in January-October 2010.