Support The Moscow Times!

LUKoil Share Buyback

LUKoil and investors led by UniCredit paid $2.4 billion to buy about 5 percent of the oil producer from Conoco­Phillips, the company said Friday.

“The transaction is funded by the group’s internal resources, without increasing the company’s total debt,” LUKoil vice president Leonid Fedun said. A total 42.5 million shares were purchased, LUKoil said.

(Bloomberg)


Read more

The need for honest and objective information on Russia is more relevant now than ever before!

To keep our newsroom in Moscow running, we need your support.