OREANDA-NEWS. Rosneft’s Board of Directors reviewed the Company’s preliminary results for 2006 and approved its business plan for 2007.

According to preliminary data, production of oil and gas condensate will reach 80,6 million tonnes (including 100% of Udmurtneft’s production for December 2006), which is 8,2% higher than the level in 2005 (74,6 million tonnes).

According to preliminary data for 2006, gas production will reach 13,625 billion cubic meters, which is a 4,2% increase over 2005 (13,078 billion cubic meters).

Refining of Rosneft oil at Russian plants is expected to reach 24,025 million tonnes of oil in 2006 (including 126,000 tonnes of third-party oil), which is 8,1% higher than in 2005 (22,2 million tonnes).

At the Company’s own refineries, 10,808 million tonnes of oil will have been refined, an increase of 3% over 2005 (10,493 million tonnes). The total volume of oil products produced is expected to reach 22,8 million tonnes.