Russia's No.2 oil producer Lukoil has started commercial production at the West Qurna-2 oil field, one of the largest in the world located 65 km from the Iraqi town of Basra.
As per the contract, Lukoil must maintain that leve
Russia's Lukoil is negotiating a deal with the world's top oil exporter Saudi Arabia to tap unconventional gas deposits in the kingdom's "Empty Quarter" desert region, the company's overseas unit said.
Sheikh Mansour Hamid Al-Imara clutches his prayer beads and watches a huge new oil facility nearing completion across the road from his village, hoping that Russian operator Lukoil will offer his poor tri
Russia's No.2 oil producer Lukoil plans to reach commercial levels of oil production at Iraq's huge West Qurna-2 oilfield in the first quarter of 2014 and expects smooth exports from the deposit, a company official said.
Russia's No 2 oil producer, Lukoil, posted a doubling in second-quarter net income yesterday, just missing forecasts as a weaker rouble and higher-than-expected taxes dampened a rise in sales and the impact of an acquisition.
About 170 Iraqi nationals completed a training programme at Lukoil Overseas Mid-East, a Russia-based subsidiary that manages international oil and gas production and exploration projects.
The trainees were assigned to different fa
Litasco, the trading arm of Russia's Lukoil, has won the bulk of a tender by Egypt's state oil company for delivery of gasoil to the Mediterranean port of Alexandria in the second half of the year, traders said on Tuesday.
Russia's second-largest crude producer Lukoil said it has cut its oil production plan in Iraq by almost a third, in line with the local government's plans to increase the lifetime of its oilfields.
Andrei Kuzyayev, head of
Russia's second-largest crude producer Lukoil said on Monday it decided not to join the development of Iraq's West Qurna-1 oilfield, citing high risks.
Lukoil oversees the largest share of oil reserves in Iraq among foreig
Iraq would favour bids by Russia's Lukoil and China's CNPC if they decided to buy ExxonMobil's stake in the West Qurna-1 oilfield, a senior oil ministry official said.
Baghdad had received "positive signals"