Sector News

Russia’s Lukoil to cut investments to $12.5 billion in 2015

June 25, 2015
Vagit Alekperov, the head of Russia’s No.2 oil producer Lukoil, said on Wednesday that investments were seen at $12.5 billion in 2015, which is down from around $15 billion the previous year, while free cash flow was expected to reach more than $1 billion this year.
Alekperov, Lukoil’s largest shareholder with a stake of more than 20 percent, also said that he will not be able to increase his stake to 30 percent due to unspecified restrictions.
(Reporting by Olesya Astakhova; writing by Vladimir Soldatkin; Editing by Elaine Hardcastle)

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