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Rosneft Likely to Buy More Yukos Assets

Rosneft may buy more assets from Yukos company

Russian state-run oil company Rosneft may buy more assets from Yukos company, it said, as it revealed 2005 earnings were up fourfold, to $3.986bn.

The earnings were boosted by output from Yukos' former core oil unit, Yugansk, which it took over in late 2004.

Rosneft also said it aimed to double its production to 2.9 billion barrels per day by 2015.

It plans to reach the figure in stages, initially boosting production from 1.5 billion barrels per day in 2005 to 2.0 bpd in 2010.