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To: TobagoJack who wrote (37081)	8/10/2003 6:17:30 PM
From: Haim R. Branisteanu	Respond to of 74559

LUKoil Pumps More MOSCOW (Bloomberg) -- LUKoil, the country's second-largest oil producer, said it expects to pump 4 percent more oil this year, doubling last year's growth rate, after it bought assets in northern Russia and western Siberia. LUKoil pumped 36.3 million tons of oil (1.47 million barrels per day) in January through June, a 3 percent increase from the same period of 2002, said Gennady Krasovsky, a spokesman at the Moscow-based company. In the second quarter, output rose 4.6 percent. "These numbers include subsidiaries where we own more than 50 percent and can consolidate their results under U.S. generally accepted accounting principles," Krasovsky said. "We'll try to maintain the last quarter's growth rate for the current quarter as well." LUKoil is relying on oil projects in the Komi and Nenets regions of the Arctic to drive output increases. LUKoil's stock has risen 16 percent this year. themoscowtimes.com