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Lukoil expects investment to recover to pre-crisis level in 2022, says CEO
Earlier reports said that Lukoil upgraded its capital expenditures guidance for 2021 compared with its initial outlook to $6.27-6.67 bln
ST. PETERSBURG, June 5. /TASS/. Lukoil expects investment to recover to the pre-crisis level in 2022, Chief Executive Officer and co-owner of Russia’s oil major Lukoil Vagit Alekperov told TASS on the sidelines of the St. Petersburg International Economic Forum. After completion of the OPEC deal a maximum increase in oil production, he said when asked a respective question.
Earlier reports said that Lukoil upgraded its capital expenditures guidance for 2021 compared with its initial outlook to 460-490 bln rubles ($6.27-6.67 bln) excluding its West Qurna-2 service project, amid the recovery of the price environment. Previously the guidance suggested 450 bln rubles ($6.13 bln) worth of capital expenditures.