Russia's biggest oil producer OAO Rosneft (ROSN.RS) aims to increase its oil output in 2010 by between 4% and 5% on the year, the company's Chief Executive Sergey Bogdanchikov said Tuesday.
He added that Rosneft's oil production for 2009 is expected at 112 million metrics tons, or 840 million barrels, a 2% rise from 2008.
Bogdanchikov said the company plans to have a positive cashflow in 2010 and reduce its net debt.
He added that Rosneft will increase capital expenditure in ruble terms in 2010 and treble its investment in downstream business in 2010 on the year.