LUKoil PLANS TO PRODUCE SOME 87 MLN TONS OF OIL IN 2004
MOSCOW, February 3 (RIA Novosti) - LUKoil, Russia's largest oil and natural gas producer, has adopted an oil output plan for 2004. The company plans to boost oil output 6-7%, or up to 86.2-87 million tons, the figure being contingent on available and efficient transport capacities, reads the company's press-release.
LUKoil's affiliated companies based in Russia are to provide 80% of the overall output, while foreign-based affiliates - 20%, according to the plan.
The company will hit the target through an increase in oil production, possible acquisitions are not taken into account," says the press release.
