MOSCOW - Lukoil has budgeted for an average oil price of $60 next year, the oil company's chief, Vagit Alekperov, told Interfax.
But Alekperov said he thought oil would rise to $70-$80 a barrel by the end of 2015.
“Our company has three variants – $80, $70, $60. For now we’ve approved the average annual price at $60,” Alekperov said.
He said that for the first quarter of 2015, the company had retained a higher oil price [of $80 a barrel] as an abrupt switch to a lower price would have been a sharp blow, partly to service organizations. “So we have this smooth scenario, beginning at $80, but we want to sustain an average of $60 for the year,” he said.
