TNK-BP's board of directors approved its 2011 investment program last week, although the company has yet to officially reveal any details. TNK-BP's executive vice president for exploration and production, Sergei Brezitsky, did say last week that total spending would be approximately $5 billion. The company's capital expenditure for this year will total $4 billion, down from the $4.4 billion earmarked previ- ously, due to currency fluctuations and a slowdown of the firm's Yamal projects, Chief Financial Officer Jonathan Muir said earlier.
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