LUKoil Plans International Acquisitions

LUKoil, one of the largest independent oil companies in Russua,  may purchase production capacities abroad by the end of the year, its head, Vagit Alekperov, told local media at the week-end.

Alekperov stated "We are interested in buying Upstream assets in the United States, Vietnam, and Southeast Asia. The company is interested in the acquisition of assets, including geological exploration.” When asked whether the acquisitions could be done by the end of 2011, he said: "Yes, I think so." Alekperov has previously said LUKoil expected to invest $25 billion in oil refining and petrochemistry in the next 10 years. PetrolWorld believes that ConocoPhilips will have a role  or influence in the background where both companies have developed an unique partenrship over recent years.

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