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Navigation Primary Navigation Home Singapore Asia Pacific World Business Entertainment Sports Technology Secondary Navigation Singapore Asia Pacific World Search Search: Rosneft says 2008 best year; 2009 oil price $50-60 Reuters - Thursday, October 30 MOSCOW, Oct 29 - The chief financial officer of Russia's no. 1 energy firm Rosneft <ROSN.MM> said on Wednesday this year will be the best ever for the state-controlled company, adding that it expects lower oil prices next year. "This will be the best year on record, in terms of both volumes and earnings," Peter O'Brien told an investor conference, declining to specify amounts or expectations of earnings. He also said Rosneft is budgeting for an average price of oil at between $50 to $60 per barrel next year. Oil prices were above $65 a barrel on Wednesday, down more than 50 percent from a record peak of $147.27 in July. O'Brien said that Rosneft is currently developing a business plan, most of which will be announced in December. He added that operating costs will decrease "materially" in the long term as compared to this year as the firm benefits from a cheaper rouble. At 1240 GMT, Rosneft shares were up 8.44 percent, trading at 93.06 roubles per share. Earlier this week industry sources said Rosneft and Chinese state-run oil firm CNPC planned to sign a 15-year oil supply deal, ending months of dispute over pricing. (Reporting by Vladimir Soldatkin, writing by Amie Ferris-Rotman; Editing by Hans Peters) Email Story IM Story Printable View Blog This Recommend this article Average (0 votes) Sign in to recommend this article » Most Recommended Stories » Related Articles: Oil Price Hike LUKOIL says Russia could join OPEC, trim outputReuters - 2 hours 54 minutes ago Rosneft says 2008 best year; 2009 oil price $50-60Reuters - Thursday, October 30 COLUMN-Crisis remakes the commodity business: John KempReuters - Thursday, October 30 Gas exporters postpone Moscow Nov summitReuters - Wednesday, October 29 Related Articles: Business TOPWRAP 8-China cuts rates, Fed and others set to followReuters - Thursday, October 30 Japan's Sumitomo Mitsui expands despite crisisAFP - 1 hour 24 minutes ago Japan's Softbank operating profit hits record high with iPhone helpAFP - 1 hour 27 minutes ago Comcast 3Q profit rises 38 pct, co. boosts outlookAP - 1 hour 27 minutes ago P&G says 1Q profit rises 9 percentAP - 1 hour 28 minutes ago Related Full Coverage oil price hike oil price hike All Full Coverage Most Popular – Business Viewed When men see red, they see hot: study World's fattest man weds friend's widow Desperate pleas end in despair as starlet's nephew found dead Obama set for prime-time appeal to voters Markets rebound ahead of key US meeting View Complete List » Search: Home Singapore Asia Pacific World Business Entertainment Sports Technology

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