Russia: Lukoil Plans $24bn Investment in Downstream
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Tuesday, 25 October 2011 |
Russian energy firm Lukoil has announced plans to invest $24bn in its downstream operations between now and 2020. The bulk of the investment, $20bn, will be spent on modernising existing refineries and building new ones, Interfax reported.
The company has brought forward its capital investment programme to 2012 from 2014, citing increased international demand for petrol. The first project earmarked for the investment plan is a new petrol production plant in Nizhny Novgorod, which Lukoil Vice President Vladimir Nekrasov said will be operational by 2015. Lukoil operates in over 40 countries worldwide.
Petrolworld 25102011
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