InfoAnda - LUKOIL slashes 2009-2011 capex plan on oil price

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Navigation Primary Navigation Home Singapore Asia Pacific World Business Entertainment Sports Technology Secondary Navigation Singapore Asia Pacific World Search Search: LUKOIL slashes 2009-2011 capex plan on oil price Reuters - Friday, October 31 MOSCOW, Oct 30 - Russia's No. 2 oil firm LUKOIL <LKOH.MM> said on Thursday its board had slashed the firm's capital expenditures plan for 2009-2011 to $7.5-$9.0 billion per year due to the oil price weakness. It said it could not rule out a possible further reduction to $5.1 billion a year should the oil price continue to go down. LUKOIL's capital expenditure this year is expected to total around $17 billion, around $5 billion of which is linked to acquisitions including its purchase of a stake in Italian refiner ERG SpA's <ERG.MI> Mediterranean plant. (Reporting by Dmitry Zhdannikov; editing by Amie Ferris-Rotman) Email Story IM Story Printable View Blog This Recommend this article Average (0 votes) Sign in to recommend this article » Most Recommended Stories » Related Articles: Oil Price Hike Nigeria cuts oil exportsAP - Friday, October 31 LUKOIL slashes 2009-2011 capex plan on oil priceReuters - Friday, October 31 World oil prices higher in Asian tradeAFP - Thursday, October 30 WRAPUP 1-Russia to cut oil exports, tycoon seeks OPEC entryReuters - Thursday, October 30 Related Articles: Business Stocks up on GDP report in relatively calm sessionAP - 2 hours 8 minutes ago Newell Rubbermaid 3Q profit falls 68 percentAP - 2 hours 53 minutes ago Commodities fall on recession concernsAP - 2 hours 58 minutes ago US diabetes rate doubles over 10 yearsAP - Friday, October 31 Macau lifts Wynn Resorts Q3 profit 14 pctReuters - Friday, October 31 Related Full Coverage oil price hike oil price hike All Full Coverage Most Popular – Business Viewed When men see red, they see hot: study Asian stocks soar on US Fed rate cut McCain in defiance as Obama boosted by economic data World's fattest man weds friend's widow Desperate pleas end in despair as starlet's nephew found dead View Complete List » Search: Home Singapore Asia Pacific World Business Entertainment Sports Technology

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