LUKOIL WILL CUT $1.5 BLN
Russia's second-largest oil producer Lukoil aims at stabilizing its oil output this year, the company's CEO Vagit Alekperov said on the sidelines of the World Economic Forum in Davos, Switzerland. "Lukoil aims at stabilizing output throughout Russia in 2015," Alekperov said.
Lukoil will cut its 2015 investment program by $1.5 billion, Alekperov added. "I would say that a 10-15% cut in this year's investment program equals $1.5 billion," Alekperov said.
Russia's largest private oil firm Lukoil plans no personnel cuts, despite problems in the national economy, the CEO stressed. "We'll not cut our personnel but will not hire new people, even though we're commissioning fixed assets worth almost $5 billion in 2015 both in upstream (exploration and extraction) and downstream (refining and sales) operations," Alekperov said.
Speaking about oil prices, the Lukoil CEO said they will average $50 per barrel in Q1, and $65-70 per barrel in 2015.
|September, 22, 09:20:00|
|September, 22, 09:15:00|
|September, 22, 09:10:00|
|September, 22, 09:05:00|
|September, 22, 09:00:00|
|September, 22, 08:55:00|
Instead, with the planned referendum just days away, Russian state oil giant Rosneft announced its latest investment last week, to help Iraqi Kurdistan develop its natural gas industry, for domestic supplies and eventual export.
Iran exported over 5 billion cubic meters (bcm) of natural gas during the first five months of the current Iranian calendar year (March 21-August 22), Dispatching director of National Iranian Gas Company (NIGC) announced.
Gazprom Neft has shipped its second and largest cargo of Iraqi crude to the US since the Badra field, its flagship overseas oil project, came on stream in 2014, the Russian oil company said Tuesday.
Qatargas has agreed to sell 1.5 million tpy of LNG to Turkey’s BOTAŞ Petroleum Pipeline Corporation (BOTAŞ) over a period of three years