CEO: Lukoil hopes for sanctions effect ease amid imports replacement - Oil & Gas - PRIME Business News Agency - All News Politics Economy Business Wire Financial Wire Oil Gas Chemical Industry Power Industry Metals Mining Pulp Paper Agro Commodities Transport Automobile Construction Real Estate Telecommunications Engineering Hi-Tech Consumer Goods Retail Calendar Our Features Interviews Opinions Press Releases

CEO: Lukoil hopes for sanctions effect ease amid imports replacement

HOUSTON, U.S., Mar 12 (PRIME) -- Russian oil producer Lukoil hopes to ease the effect of Western sanctions by imports replacement, CEO Vagit Alekperov said during the CERAWeek in Houston on Tuesday.

УSanctions are harmful for us now, they have a negative impact but we hope that this negative period will somehow stabilize and will continue to ease because the replacement of the technologies and equipment continues,Ф Alekperov said.

He said that sanctions ruined LukoilТs cooperation with Total, and it has to agree the purchase of any products and equipment with sanctions rulers, which makes the process longer

Alekperov also said that Lukoil had signed an agreement to survey the Karakalpakstan area in the north-west of Uzbekistan and hopes to discover oil there.

УColossal economic, legal and regulatory reforms are taking place now in Uzbekistan,Ф Alekperov said. УThe company has taken two large projects there Ц the Gessar and the Kandym group of deposits.Ф

Lukoil already runs a U.S. $3 billion gas project Kandym-Khausak-Shady-Kungrad where the total production can exceed 200 billion cubic meters.

УThe Uzbek economy is now developing very dynamically, not only in the hydrocarbons sphere, but also in the sphere on ferrous and non-ferrous metals, agriculture. We believe in the economy of Uzbekistan, in its policies.Ф


12.03.2019 08:42
Share |
To report an error select text and press Ctrl+Enter
Central Bank Official Rate
1W 1M 1Y
EUR 71.9654 +0.0023 22 may
USD 64.5372 +0.0484 22 may
Stock Market Indices
1D 1W 1M 1Y
rtsi 1279.12 +1.82 18:50 21 may
micex 2616.53 +1.75 18:50 21 may
Stock Quotes in RUR
1D 1W 1M 1Y
gazp 207.80 +3.49 18:49 21 may
lkoh 5300.00 +2.46 18:49 21 may
rosn 415.95 +1.90 18:47 21 may
sber 232.71 +2.97 18:49 21 may
MICEX Ruble Trading
1D 1W 1M 1Y
EURTD 71.9225 -0.0725 14:59 21 may
USDTD 64.4375 -0.3225 17:44 21 may