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04 noviembre 2006

LUKOIL says happy to buy back shares at up to $100

Russia's top oil producer LUKOIL is happy to conduct a $3 billion share buyback at prices up to $100 a share, Head of Investor Relations Gennady Krasovsky said on Thursday. LUKOIL has promised to launch the buyback next year as soon as U.S. oil major ConocoPhillips (COP) has increased its stake to an agreed level of 20 percent. COP was currently "pretty close" to that level, with around 18.6 percent of the Russian firm. Ahora están a $81.5

LUKOIL is pursuing an expansion plan that would double daily output to 4 million barrels per day of oil equivalent through investment in exploration and refining capacity. Krasovsky said the company aimed for around 2 million barrels per day of refining capacity -- half of that in Russia and half in the rest of the world.