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    Crude producer Rosneft set to boost oil output 10.9% in 2008

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    Russia's state-controlled crude producer Rosneft [RTS: ROSN] said on Friday it intends to boost oil output 10.9% year on year in 2008 to 111.9 million metric tons (820 million barrels).

    MOSCOW, December 28 (RIA Novosti) - Russia's state-controlled crude producer Rosneft [RTS: ROSN] said on Friday it intends to boost oil output 10.9% year on year in 2008 to 111.9 million metric tons (820 million barrels).

    The Rosneft board of directors on Friday reviewed the company's performance in 2007 and approved its business plan for 2008, saying the crude producer had achieved the best operational results in its history this year.

    In 2007, Rosneft boosted oil output 25% year on year to 100.9 million metric tons (739 million barrels) or 0.3% above target.

    Rosneft has become Russia's largest crude producer after acquiring most of the assets of bankrupt oil firm Yukos through liquidation auctions earlier this year.

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