September 7, 2018 / 9:08 AM / a year ago

Russia's Lukoil to spend $1 billion on share buyback by end-2019: Interfax

The logo of Russian oil company Lukoil is seen on a board at the St. Petersburg International Economic Forum 2017 (SPIEF 2017) in St. Petersburg, Russia, June 1, 2017. REUTERS/Sergei Karpukhin

MOSCOW (Reuters) - Russian oil firm Lukoil plans to spend at least $1 billion buying back shares by the end of next year, Interfax cited the company’s first vice president for finance as saying on Friday.

Lukoil will begin the buyback this month and the process will be handled by Citibank, Alexander Matytsyn said.

(This version of the story was corrected to read end-2019)

Reporting by Maria Kiselyova; writing by Tom Balmforth; editing by

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