Lukoil borrows £3.4billion from Alfa Bank
Russian oil and gas operator Lukoil has received 30billion rubles (£3.4 billion) in financing from Alfa Bank. The oil giant said the funds will be used for general corporate purposes.
Lukoil
Romanian prosecutors seize Lukoil assets in probe, report says
Romanian prosecutors seized assets of Russian oil firm Lukoil worth up to 2 billion euros ($2.22 billion) in an investigation on suspicion of money laundering, a local court was quoted as saying on Wednesday by state agency Agerpres. In October of last year Romanian prosecutors, police and customs inspectors raided the offices of Lukoil near the city of Ploiesti in an investigation into alleged tax evasion and money laundering concerning an estimated 230 million euros. As a result, Lukoil briefly shut down its local refinery.
Russia’s Lukoil to boost oil exports by at least 300,000 tonnes in June
Russia's top oil producer Lukoil will increase its crude exports by at least 300,000 tonnes in June due to cuts in production at its Norsi refinery, industry sources said on Tuesday.
Lukoil profits fall by 39%
Lukoil said profit fell 39% last year as crude prices slumped and Russia’s second-largest oil producer reported asset impairments from Kazakhstan to West Africa. Net income dropped to $4.75 billion from $7.83 billion in 2013, the Moscow-based company said in an e-mailed statement on Tuesday. Impairments of $2.34 billion were partly countered by a $1.89 billion hedging gain from oil trading. The results come after OAO Gazprom Neft posted a 31% decline in profit on Monday as oil prices plunged and a weaker ruble led to foreign-exchange losses, while OAO Novatek last week said earnings dropped 66 percent. Lukoil has cut total spending, while maintaining development deadlines for Caspian and Siberian projects.
Lukoil sells 20% NOC stake to Rosneft
Lukoil has sold its 20% stake in NOC (National Oil Consortium) to Rosneft. NOC was established by Russian oil companies in 2008 as part of the Russian-Venezuelan economic promotion. In 2010, the NOC and Venezuelan company PDVSA registered a joint venture, PetroMiranda, to develop the Junin-6 block in the Orinoco heavy-oil belt.