Media outlook in December 2008 | |||
Everything and as little as possible...
A sharp decrease in the income, together with instability at financial markets, has made oil companies take the road of the dramatic reduction of their expenditures. At "TNK-BP Commerce" Company, the current situation at the financial sector is perceived as the normal working situation. "We have foreseen such developments and have a clear control of the balance of payments. At present we have to cut down our expenses as much as possible and to continue financing only those projects, which are directly connected with ensuring of the production and commercial activities. The principal idea is to perform the same volumes of work, spending less", — the Company has informed. While speaking about the investment projects, the processing company feels rather restrained. It is rather difficult now to think about new programs on the enterprise's development. For the time being, "TNK-BP Commerce" management is ready to finance the operational capability maintenance of the Lisichansk oil refinery and to accomplish commercial projects, which have been already commenced. "Implementation of new programs will depend on how quickly the global resource markets will be stabilized, as well as on the efficiency that our activities in Ukraine are going to ensure in the nearest years", — the Company has announced. At that, the processing company emphasizes that it will not cut down the expenses on industrial and ecological safety.
Source: Nefterynok