MOSCOW, June 5 (RIA Novosti) - The market capitalization of Russian state-controlled oil producer Rosneft [RTS: ROSN] hit $129 billion as of May 30, Rosneft CEO Sergei Bogdanchikov said on Thursday.
Bogdanchikov told an annual meeting of company shareholders that Rosneft considered further increases in its market value and also dividend growth a priority.
Bogdanchikov said Rosneft planned to boost natural gas output from 15.3 billion cu m in 2007 to 20 billion cu m in 2010.
Under the company's strategy being developed until 2020, Rosneft plans to modernize its oil refineries and develop gas-chemical operations.
In 2007, Rosneft boosted oil output 25% year on year to 100.9 million metric tons (739 million barrels).
