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Rosneft to increase oil production in 2007 by 25% to 100 mln tons

MOSCOW, December 17 (RIA Novosti) - Russia's state-owned oil company Rosneft [RTS: ROSN] will produce over 100 million tons of oil in 2007, 25% more than in 2006, its chief executive said on Monday.

"This is a landmark event for the company," Sergei Bogdanchikov told journalists.

The company produced some 80 million tons of crude in 2006.

Rosneft bought up the main oil producing assets of bankrupt oil giant Yukos in an auction this year, subsequently attaining a leading position in the country's crude production.

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