Sector News

Russia’s Lukoil says Saudi Aramco wants to raise stake in Luksar

June 24, 2015
(Reuters) – Saudi state oil company Saudi Aramco wants to raise its share in Luksar, a joint venture with Russia’s Lukoil, to 50 percent, the chief executive of the Russian company said on Wednesday.
“They are interested in taking their share to 50 percent,” Vagit Alekperov, Lukoil CEO, told reporters.
Lukoil has a majority stake in Luksar but industry sources said in April the company was likely to pull out from Saudi Arabia as the economics of its search for gas have been crushed by the collapse in the oil price. (Reporting by Olesya Astakhova; Writing by Maria Kiselyova, editing by Elizabeth Piper)

comments closed

Related News

August 23, 2019

The higher purpose of being a CEO

Borderless Leadership

LinkedIn Twitter Xing EmailWhen I left my second large company experience to become President of a small manufacturing company I did so driven by ego; I fancied the title. Soon […]

August 23, 2019

As Brexit nears, Britain’s drugs, devices and pricing regulators seek the exit

Life sciences

LinkedIn Twitter Xing EmailFirm details on exactly how the U.K. will regulate new medicines is still to be decided after it leaves the EU later this year (caveats on timing […]

August 23, 2019

The Simply Good Foods Company acquires Quest Nutrition for $1bn

Food & Drink

LinkedIn Twitter Xing EmailThe Simply Good Foods Company, the owner of Atkins-branded food products, has secured a deal to acquire protein snack maker Quest Nutrition for $1 billion. Quest, which […]

How can we help you?

We're easy to reach