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Saudi Aramco Wants to Raise Stake in Luksar

Source: Reuters 6/24/2015, Location: Middle East

Saudi state oil company Saudi Aramco wants to raise its share in Luksar, a joint venture with Russia's Lukoil, to 50 percent, the chief executive of the Russian company said on Wednesday. 'They are interested in taking their share to 50 percent,' Vagit Alekperov, Lukoil CEO, told reporters.

Lukoil has a majority stake in Luksar but industry sources said in April the company was likely to pull out from Saudi Arabia as the economics of its search for gas have been crushed by the collapse in the oil price.

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Related Categories: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Industrial Development  Insurance  Investment  Mergers and Acquisitions  Risk Management 

Related Articles: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Insurance  Investment  Mergers and Acquisitions  Risk Management 


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