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. Last Updated: 07/27/2016

Tatneft Reduces Request

MOSCOW -- Russian crude oil producer Tatneft is sharply reducing its request for a planned loan from French bank Societe-Generale to $75 million from $270 million, Interfax has quoted company sources as saying.

Under a guarantee arrangement with the U.S Export-Import Bank, the French bank agreed last October to offer Tatneft a five-year, $269.9 million loan to restore 2,700 idle wells, buy U.S. equipment and boost output at a number of oil deposits.