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. Last Updated: 07/27/2016

Business in Brief

Record Oil Export Plan

Russia will boost oil exports in the third quarter of 2006 by about 5 percent and will continue to use Lithuania's Mazeikiu refinery, which a Polish firm bought against Moscow's wishes, a schedule showed Thursday.

The quarterly oil export schedule showed that exports from key seaports and via the Druzhba pipeline to Central Europe would rise by 220,000 barrels per day, to 4.45 million bpd, compared with the second quarter of 2006. The export plan is the biggest ever set by the Industry and Energy Ministry. (Reuters)

Venezuela to Buy 24 Sukhois

CARACAS, Venezuela -- Venezuelan President Hugo Chavez said Wednesday that his government planned to buy 24 Russian-made Sukhoi fighter jets as part of increased military spending to beef up the country's armed forces.

Chavez has already purchased Russian attack and transport helicopters and 100,000 Kalashnikov rifles to modernize the military of the world's No. 5 oil exporter. (Reuters)

For the Record

The country's top juice and dairy products producer, Wimm-Bill-Dann, reported Thursday a sixfold rise in first-quarter net profit to $17.4 million, from $2.9 million in the same period a year ago. (Reuters)

IMS Group, the country's largest marketing and sales firm, said Thursday it had bought India's Candid Marketing firm for $5.6 million. (MT)