12/01/2018
Press release: Lukoil board of directors summarizes preliminary results of 2017
The LUKOIL Board of Directors held a meeting in Moscow today to summarize the Company's preliminary 2017 results and set priorities for 2018 under the new Strategic development program for 2018-2027.
It was emphasized at the meeting that the Company accomplished major operational goals for 2017, delivered significant progress in the development of key projects and generated high level of free cash flow, despite of the volatile market environment and external production limits.
Among key priorities for 2018 the Board of Directors set cost optimization and efficiency improvements on existing and new projects, attainment of key performance indicators including hydrocarbon production growth, as well as accident-free performance.
"Long-term development program approved by the Board of Directors in December last year, is primarily targeted at the efficiency improvements and growth in the financial results. It also includes a number of important changes that we plan to implement already in 2018. In particular, as part of the strategy approval process, the Board of Directors supported the management initiative to cancel the major part of LUKOIL treasury shares and use the remaining treasury shares in a new long-term incentive program for key employees, as well as the initiative to establish a share buyback program as an incremental mechanism to distribute capital to the shareholders. I think these changes will further support the growth of the Company's shareholder value," President of LUKOIL Vagit Alekperov said during his speech at the meeting.
Другие новости этого раздела:
23/01/2024
Mosaic ожидает спрос на удобрения в Бразилии в объеме 46 миллионов тонн в этом году
24/09/2022
Первая партия низкоуглеродного аммиака отправилась из Абу-Даби в Германию
18/11/2021
Acron to Reduce UAN Output in Favour of Dry Fertilisers
24/10/2021
«Омский каучук» обновил производство кумола и изопропанола
«Сибур» одобрил гарантии финансирования «Амурского ГХК» на 10 млрд $
Mitsubishi Chemical покупает патент полиэфира из биомассы у Mitsui
23/07/2021
NikoMag will increase production capacity of its magnesium hydroxide plant
23/04/2021
Uniper закроет 10% потребности Германии в зеленом водороде
02/04/2020
Production stopped at fertiliser units at Taloja in Maharashtra
11/03/2020
LANXESS achieves full-year target for 2019
02/03/2020
The Mosaic Company reported a net loss of US$1.07 billion for full year 2019
12/02/2020
28/08/2019
Asian Helsinki Chemicals Forum will take place 24-25 oct 2019
24/05/2019
Helsinki Chemicals Forum took place in the capital of Finland
29/03/2019
Press release: Lukoil CEO and Iraq Prime Minister discuss future cooperation