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Lukoil board approves investment program of over $20 billion

MOSCOW -- Lukoil has approved an investment program for 2013 at over $20 billion, the company' s CEO Vagit Alekperov said, according to Interfax news agency.

The board of directors approved an investment program and will allow the company' s management to revise it upward by up to 10%, he said.

"There are two things we won' t be doing no matter what the price of oil is: reducing payments to our shareholders and adjusting our investment program" Mr. Alekperov is quoted as saying.

Dow Jones Newswires

04/23/2013

 

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