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2010 Operating Budget Outlook

2010 Operating Budget Outlook. 2010 Approved Budget - $636MM Current Outlook (October) - $663MM

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2010 Operating Budget Outlook

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  1. 2010 Operating Budget Outlook • 2010 Approved Budget - $636MM • Current Outlook (October) -$663MM • $33.8MM– Prod Ops is higher due Revised scope & forecast for SGP & KTL TA's & other repair work ($15MM), SOP project, higher sulfur crushing volumes than planned ($3MM), WO’s at SGP & KTL Plants ($11MM), higher labor cost ($14MM), offset by other various reductions (-$10MM). • $3.5MM– SCM is higher mainly due to lower charge-outs in TFM incl. RV Utility Recovery and actual commitments exceeding budget (Customs Audit cost, ESS, NSS, Sarkamys highway repair work (not budgeted) , Works in DV, Security Equipment maintenance; Chevron CBRES payment in Q4 offset with misc. reductions. • $1.5MM– Ops Mgr & Staff is higher due to I-field project support costs, Lean Sigma consultancy costs and higher seconded labor costs. • $1.0MM – FE is higher due to SGP design modification activity. • $6.6MM – Environmental costs is higher due to higher sulfur storage • <$16.6MM> - Lower forecast in various departments (Finance & Insurance, HR, M&T, HES, Planning, IT, RMG) as a result of reductions and savings identified. • YTD (Sep) actual $500.7MM vs. $489.6MM YTD target. • By Oct. 1st, 2010 we spent 79% of the annual budget. TCO Confidential

  2. 2010 TCO OPEX Analysis TCO Confidential

  3. October 2010 Operating Budget Outlook(compared to 2010 Approved Budget) TCO Confidential

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