Lukoil Urges Russian Oil Competition to Catch Up With U.S. Shale
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OAO Lukoil, a non-state crude producer seeking access to Russia’s Arctic resources, urged competition as the best way for domestic producers to catch up on technology gains that spurred U.S. oil and gas output growth.
Lukoil is proposing setting up a body that would handle bids for offshore licenses, likening it to the Norwegian Petroleum Directorate, to expand access and boost competition, billionaire Chief Executive Officer Vagit Alekperov said in an article published today in state newspaper Rossiyskaya Gazeta.