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TNK - BP will increase investment volume by 35% to $3.4 bln

TNK-BP also said that company’s total debt made $6.9 billion by the end of 2006 in relation to $3.6 billion in the previous year. Net debt rose to $5.2 billion from $2.3 billion.

TNK-BP was founded in 2003 by the British BP on a par with the consortium of Alfa-Group and Access/Renova. The founders brought their Russian and Ukrainian assets in it: 96% shares of TNK, 98% shares of ONAKO and SIDANKO each, 50% of Slavneft, interests in RUSIA Petroleum and Rospan, as well as a chain of petrol stations under the BP trademark in Moscow and the Moscow Region. (petrolplaza.com)