Date: 8 months ago   Category: Energy

Lukoil until the end of 2019 will spend for redemption of own stocks more than $1 billion — Rambler News Service


Photo: Ramil will direct to Sitdikov/RIA Novosti Lukoil until the end of 2019 more than $1 billion for implementation of the program of share repurchase of stocks (buyback), the first vice-president of the company Alexander Matytsyn has told journalists on the sidelines of the Moscow financial forum. "More than 1 billion will be directed. How many definitely I can't tell, but more than 1 billion" — he has noted. Matytsyn has added that for implementation of the buyback program Lukoil doesn't intend to raise borrowed funds. According to him, Citi will be an agent of Lukoil for implementation of the program of share repurchase. As earlier reported to RNS, in August Rosneft has appealed to the Russian President Vladimir Putin to provide the companies investment incentives when developing fields of Siberia. As the representative of the company explained, according to the experts, stimulation of investments into production in Western Siberia can yield in addition more than 1 trillion rub of budget revenues till 2024 - it is about income from growth of production in the region on all branch.

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