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Russia’s Lukoil plans to increase 2014 oil output by over 5%

June 26, 2014, 13:39 UTC+3 MOSCOW
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MOSCOW, June 26. /ITAR-TASS/. Russia’s oil major Lukoil plans to increase its oil production in 2014 by 5.7% and reduce gas production by 3.5% on the previous year.

Oil production is planned to reach 96 million tonnes, and gas production - 25 billion cubic metres, or 121 million tonnes of equivalent fuel, Lukoil First Executive Vice President Ravil Maganov told the annual meeting of shareholders on Thursday.

In 2013, LUKoil’s output was 116.7 million tonnes of equivalent oil, including 90.8 million tonnes of oil and 25.9 billion cubic metres of gas.

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