Sector News

Russia's Lukoil to raise $600-800 mln, cut investments in 2016

November 25, 2015

(Reuters) – The chief executive of Russian oil producer Lukoil, Vagit Alekperov, said on Tuesday the company planned to raise between $600 million and $800 million in 2016.

Lukoil also plans to reduce 2016 investments by 12-14 percent from this year’s level, Alekperov told reporters. Lukoil previously said it planned to cut 2015 investments to $12.5 billion from $15.4 billion in 2014. (Reporting by Natalia Chumakova; additional reporting by Denis Pinchuk; writing by Polina Devitt; editing by Jack Stubbs)

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