Support The Moscow Times!

LUKoil Lowers Expectations for 2015 Output

Staff members walk in front of an outside storage tank of the Budennovskaya thermal power plant in the town of Budennovsk in Stavropol region, Russia.
VOLGOGRAD — Russia's second biggest oil producer, LUKoil, expects its oil output in Russia to decline by around 2 million metric tons, Ravil Maganov, the company's deputy president on exploration and production, said on Thursday.

The company had planned to produce 86 million metric tons (1.73 million barrels per day) of oil this year, on a par with 2014 results.

Read more

Independent journalism isn’t dead. You can help keep it alive.

The Moscow Times’ team of journalists has been first with the big stories on the coronavirus crisis in Russia since day one. Our exclusives and on-the-ground reporting are being read and shared by many high-profile journalists.

We wouldn’t be able to produce this crucial journalism without the support of our loyal readers. Please consider making a donation to The Moscow Times to help us continue covering this historic time in the world’s largest country.