Russia's No. 1 oil producer OAO Rosneft (ROSN.RS) may increase 2009 capital spending by between $300 and $500 million, the company's Chief Financial Officer Peter O'Brien said Wednesday.
The possible increase, which will be considered by Rosneft's board within one or two months, will mainly be spent on upstream projects, in particular on increasing output at the huge Vankor field, O'Brien said.
He added there is a "good chance" of zero export duty for crude produced at Eastern Siberian fields, including Vankor, to be implemented by Sep 20.