March 23, 2018 / 10:28 AM / in 8 months

Lukoil can reach strategic goals at oil price of $50 per barrel: CEO

FILE PHOTO: 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/File Photo

MOSCOW (Reuters) - Russia’s No.2 oil producer Lukoil can reach its strategic goals at an oil price of $50 per barrel, CEO Vagit Alekperov told the company’s investor day in London.

In comments broadcast online, Alekperov said the company’s mid-term goal at an oil price of $50 per barrel was to increase oil production by at least 1 percent a year.

If oil prices are above $50 per barrel, Lukoil would be ready to increase dividend payouts, Alekperov added.

Reporting by Katya Golubkova Writing by Gabrielle Tétrault-Farber; Editing by Mark Potter

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