Saudi state oil company Saudi Aramco wants to raise its share in Luksar, a joint venture with Russia's Lukoil, to 50 per cent, the chief executive of the Russian company said on Wednesday.
"They are interested in taking t
Lukoil will likely pull out from Saudi Arabia where the economics of its search for gas have been crushed by the collapse of the oil price, three industry sources said.
Lukoil is Russia's largest private oil company. The Russi
Russia's number two oil company Lukoil yesterday (August 29) said its net profit rose by 13 per cent in the second quarter to reach $2.4 billion as production increased.
"The company continued to introduce and test new te
Russia's No.2 oil producer Lukoil has started commercial production at the West Qurna-2 oil field, one of the largest in the world located 65 km from the Iraqi town of Basra.
As per the contract, Lukoil must maintain that leve
Russia's Lukoil is negotiating a deal with the world's top oil exporter Saudi Arabia to tap unconventional gas deposits in the kingdom's "Empty Quarter" desert region, the company's overseas unit said.
Sheikh Mansour Hamid Al-Imara clutches his prayer beads and watches a huge new oil facility nearing completion across the road from his village, hoping that Russian operator Lukoil will offer his poor tri
Russia's No.2 oil producer Lukoil plans to reach commercial levels of oil production at Iraq's huge West Qurna-2 oilfield in the first quarter of 2014 and expects smooth exports from the deposit, a company official said.
Russia's No 2 oil producer, Lukoil, posted a doubling in second-quarter net income yesterday, just missing forecasts as a weaker rouble and higher-than-expected taxes dampened a rise in sales and the impact of an acquisition.
About 170 Iraqi nationals completed a training programme at Lukoil Overseas Mid-East, a Russia-based subsidiary that manages international oil and gas production and exploration projects.
The trainees were assigned to different fa