Russia's Lukoil sees investment cuts due to Western sanctions


MOSCOW (Reuters) - The head of Russia's second largest oil producer Lukoil said on Thursday that Western sanctions on Russia would force the company to reduce its investment programme due to limited access to funds.

Vagit Alekperov also said Lukoil was looking to sell some of its assets in eastern Europe in order "to focus on Russian projects".

The Star Festive Promo: Get 35% OFF Digital Access

Monthly Plan

RM 13.90/month

Best Value

Annual Plan

RM 12.33/month

RM 8.02/month

Billed as RM 96.20 for the 1st year, RM 148 thereafter.

Follow us on our official WhatsApp channel for breaking news alerts and key updates!

Next In World

North Korea's Kim to tout power and military gains at party congress
Bangladesh's BNP wins sweeping election majority, promise of stability
Peru lawmakers gather support to call for debate to oust president Jeri
US, Taiwan finalise deal to cut tariffs, boost purchases of US goods
Ukraine's Zelenskiy: We have backed US peace proposals to get a deal done
China's Sun Long wins silver in men's 1,000m short track speed skating at Milan-Cortina (updated)
Australia's conservative opposition picks a new leader amid ratings slump
China opens women's curling campaign with victory at Milan-Cortina Games
North Korea says South Korea should take steps to prevent violation of its sovereignty
U.S. stocks close lower

Others Also Read