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No decline in Russia’s oil exports over next 10-20 years — Lukoil CEO

May 23, 2014, 13:22 UTC+3 ST. PETERSBURG
Lukoil CEO Vagit Alekperov attributed the expectation to the fact that modernization of oil refineries allows to receive spare volumes of oil
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Lukoil CEO Vagit Alekperov

Lukoil CEO Vagit Alekperov

© ITAR-TASS/Denis Vyshinsky

ST. PETERSBURG, May 23. /ITAR-TASS/. Russia’s oil exports will not decrease within the next 10-20 years, Vagit Alekperov, CEO of the country’s largest private oil company Lukoil, said Friday at the St. Petersburg International Economic Forum.

Alekperov attributed the expectation to the fact that modernization of oil refineries allows to receive spare volumes of oil.

The country’s gas exports will also likely to rise at the same time, Alekperov said.

Separately, Alekperov said that Lukoil supplied a first test batch of 30,000 tons of oil from its fields in the Caspian Sea via the Baku-Tbilisi-Ceyhan pipeline earlier this year. The company continues to study the market conditions prior to the launch of this pipeline, he said.

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