Head of Russia's Lukoil Says Discussing Cooperation in Africa With Saudi Aramco

Head of Russia’s Lukoil Says Discussing Cooperation in Africa With Saudi Aramco

Published on Friday, 25 October , 2019 72 Views

Business

#Africa #Lukoil #Saudi Aramco

Russia’s Lukoil and Saudi Aramco are discussing opportunities for cooperation on the African continent and elsewhere, Vagit Alekperov, the president and CEO of the company, said on Wednesday.

“We are always discussing joint opportunities with them, and they are showing interest in other countries, in Africa, but for now, this is at the stage of research and talks”, Alekperov said on the sidelines of Russia-Africa forum in Sochi.

UAE, KSA, Kuwait to Enhance Bahrain Fiscal Stability

The Ministers of Finance of the Kingdom of Saudi Arabia, the United Arab Emirates, the State of Kuwait…
292 Views | the publication reaches you by | Bahrain News

When asked at what oil prices projects in Africa proved to be economically profitable, Alekperov said that they showed profit when oil was at around $60 per barrel.

“Currently, all of our economic indicators are being based on the $60 per barrel oil price, which includes inflation. [At this price] projects [in Africa] show positive economic [profits]”, the Lukoil CEO said.

A Saudi Aramco employee sits in the area of its stand at the Middle East Petrotech 2016, an exhibition and conference for the refining and petrochemical industries, in Manama, Bahrain, September 27, 2016.

On Tuesday, the OPEC Reference Basket of crude oil, which calculates the average price of various crude oil prices from OPEC members, was $59.78.

Russia’s Lukoil to Sign MoUs on Refining, Shelf Projects With African Nations – Chief

“A number of memorandums of understanding … to study new projects will be signed today”, Vagit Alekperov, the president and CEO of the company, said on the sidelines of the forum.

According to him, “these are mostly projects linked to the shelf, plus, a number of African countries have asked us to study and comment on downstream”.

“We say in memoramdums … that the companies will do their utmost to study [the projects] and, if it is economically advantageous, will then be able to continue talks”, Alekperov said.

The Rossiya Segodnya International Information Agency is an official media partner of the two-day forum, which opened on 23 October.

Improving Organizational Performance with Fusion Leadership and Business Excellence in Bahrain

Global Experts in Leadership and Business Excellence will lead a powerful discussion focusing on improving organizational performance at…

Keywords: Africa Lukoil Saudi Aramco
Category Business, Gulf News, World News | 2019/10/25 latest update at 11:21 AM
Source : Global Times | Photocredit : Google

73 Views
Comments Add comment

The editorial staff of Bahrain Today would like to give all of its readers from Gulf and Bahrain and the whole world the opportunity to participate actively in the development of the website! If you have something interesting, fun, scandalous - just something worth to be seen from more people. Capture it and share it in the Bahrain Today with a short text.

Do you have information you want to reach our readers?

Send article/s

You can subscribe to our Facebook, Twitter and Google pages or use our RSS feed channel to always read the most important news about Bahrain, the Gulf and the world.