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06 Mar 2019, Gergana Bencheva, EMIS Editor

Russia’s Lukoil expects capital expenditures to reach RUB 500bn in 2019

Russian oil major Lukoil expects its capital expenditures to stand at RUB 500 billion, Prime reported referring to an estimate revealed by the company’s Vice President Pavel Zhdanov. The amount excludes the West Qurna-2 project, he underlined.

The company aims to keep its spending structure almost similar to 2018 and have its upstream business account for about 80% of the expenditures. Last year, Lukoil's capital spending went down by 11.7% on an annual basis to RUB 451.5 billion, Prime noted.

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