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RTP Petroneft Resources PLC

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0.00 (0.00%)
Share Name Share Symbol Market Type Share ISIN Share Description
Petroneft Resources PLC LSE:RTP London Ordinary Share IE00B0Q82B24 Ord EUR0.01
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 0.00 -
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
0 0 N/A 0

Rio Tinto Raises 2010 Capex Forecast To At Least US$5 Billion

30/10/2009 7:54am

Dow Jones News


Petroneft Resources PLC (LSE:RTP)
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Rio Tinto Ltd. (RIO.AU) said Friday that it has increased its capital expenditure estimate for 2010 to at least US$5 billion, with the potential to rise to US$6 billion, from a previous estimate of around US$2.5 billion.

The diversified miner also reiterated its 2009 capital expenditure target of about US$5 billion and said its net debt at Sept. 30 was US$22.3 billion, down 42% since Dec. 31, 2008.

Chief Executive Tom Albanese said the company will continue its program of cost reduction and debt repayments.

Still, he said Rio Tinto's "renewed strength" will allow it to focus on "disciplined capital expenditure on premier growth options" to position it for an expected recovery in demand growth over the longer term.

-By Ross Kelly, Dow Jones Newswires; 61-2-8235-2957; ross.kelly@dowjones.com

 
 

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