Lukoil says shaves off 2021 CAPEX forecast to 450 bln rbl

MOSCOW, Nov 24 (PRIME) -- Russian oil giant Lukoil has shaved off the 2021 capital expenditures forecast to 450 billion rubles from 470–490 billion rubles, including 85% of local and 15% of foreign investment, the company said in a statement on Wednesday.

Neither of the forecasts include the Iraqi West Qurna 2 spending.

The company kept the output growth forecast at 4%, in line with the current OPEC+ deal terms.

Capital expenditures in 2022 are expected at about 550 billion rubles.

(74.8327 – U.S. $1)    

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