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Lukoil Shelves $1.8 Bln US Shale Deal

Lukoil Shelves $1.8 Bln US Shale Deal
Bloomberg
Παρ, 2 Μαρτίου 2012 - 18:24
OAO Lukoil Holdings (LKOH.RS) has suspended a plan for an $1.8 billion shale purchase in the U.S. due to slumping natural-gas prices and because the plan doesn't offer an acceptable return, Deputy Chief Executive Officer Leonid Fedun said in an interview with Bloomberg in London.
OAO Lukoil Holdings (LKOH.RS) has suspended a plan for an $1.8 billion shale purchase in the U.S. due to slumping natural-gas prices and because the plan doesn't offer an acceptable return, Deputy Chief Executive Officer Leonid Fedun said in an interview with Bloomberg in London .

The company had said in May of last year that it was interested in partnering with North American companies to work on shale gas and shale oil projects.

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