Lukoil board approves investment program of over $20 billion

4/23/2013

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

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