Lukoil: No Plans To Borrow More Money; Confirms Output Target
June 04 2009 - 9:21AM
Dow Jones News
Russia's largest independent oil producer Lukoil Holdings
(LKOH.RS) isn't planning to borrow more money on international
markets unless there are interesting assets to buy, the company's
Chief Executive Vagit Alekperov said Thursday.
Last year, Lukoil bought a controlling stake in a large Italian
refinery and has been rumored to be interested in several other
European downstream assets, including Spain's Repsol (REP). When
asked if the company is still interested in buying a stake in
Repsol, Alekperov said Lukoil is interested in any asset up for
sale, but declined to elaborate.
Alekperov also confirmed the company's 2009 production target at
between 97 million and 98 million tons of crude oil this year.
The Interfax news agency cited Alekperov as saying Lukoil may
pay $1.5 billion for part of BP PLC's (BP) stake in the Caspian
Pipeline Consortium that pumps Kazakh crude to the Black Sea.
Company Web site: www.lukoil.com
-By Alexander Kolyandr, Dow Jones Newswires; +7 495 937 8445;
alexander.kolyandr@dowjones.com