Lukoil Expects 4Q Capital Spending At $2.5 Bln

Lukoil Expects 4Q Capital Spending At $2.5 Bln
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Παρ, 19 Δεκεμβρίου 2008 - 21:19
Russia's second-largest oil producer OAO Lukoil (LKOH.RS) expects its fourth-quarter investment program to total $2.5 billion, Interfax news agency reported Friday, citing the oil major's senior investment analyst, Andrei Gaidamaka.
Russia's second-largest oil producer OAO Lukoil (LKOH.RS) expects its fourth-quarter investment program to total $2.5 billion, Interfax news agency reported Friday, citing the oil major's senior investment analyst, Andrei Gaidamaka.

The company's capital spending in the first nine months of the year stood at $7.77 billion.

Lukoil expects to invest $9.7 billion next year, but this number could fall to as low as $5.1 billion should oil prices fall further, Deputy Chief Executive Leonid Fedun said last week.

Gaidamaka also said 2008 net profit may total between $11 billion and $13 billion.

Lukoil's net income for the first nine months of the year increased 71% from a year earlier to $10.77 billion.

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