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. Last Updated: 07/27/2016

33M Tons of Yukos Oil

NEFTEYUGANSK, Western Siberia -- Oil giant Yukos produced 33.2 million metric tons of crude oil in the first three quarters of 1999, the company said.

The firm's capital expenditures dropped to about 1.1 billion rubles ($44 million) for the period, a 73.1-percent decline on the same time span in 1998.

Yukos plans to produce 46.5 million tons of crude oil next year, company chief executive Mikhail Khodorkovsky said.

The oil holding plans some 8 billion rubles of capital expenditures for its exploration and production projects in 2000. A further 1.6 billion rubles will be invested in refining and marketing.

The budget for next year is based on an average estimated price of $15.50 per barrel of crude, Khodorkovsky said.