LukOil Suspends Oil Sales in Russia

World | January 14, 2004, Wednesday // 00:00

The vice president of the Russian oil major Lukoil, Leonid Fedun, said at a press conference that the Russian oil and gas sector will stop rising by 2007. Earlier, the oil giant announced that it would concentrate on foreign markets instead of selling oil in Russia. According to Mr. Fedun, Lukoil's oil output is expected to grow 4 % in 2004 to reach 85 million tons.

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