TNK-BP debt increases 13pct during Q3 2011
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Thursday, 27 Oct 2011
Interfax reported that TNK-BP debt increased 13% over the course of Q3 2011.
As of September 30, the company's debt was USD 7.8 billion compared to USD 6.9 billion as of June 30.
Mr Gennady Shulenko TNK-BP Vice President for Finance and Treasury said TNK-BP's cash and deposits amounted to USD 2.7 billion at the end of Q3 2011.
He said that "TNK-BP is ready to increase cash balances in its bank accounts. Many companies do this in order to maintain their liquidity in the current unstable market situation."
(Sourced from Interfax)
