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Teen solves centuries-old math problem
MOSCOW, Dec. 10 (UPI) -- Russia's Lukoil is projecting its 2010 plans on a baseline price of $60-$65 per barrel of oil on the international market.
During an interview Thursday on Russia's Vesti Teleradiokompaniia television channel Lukoil Vice President Leonid Fedun said, "2010 will also be a complicated year. We are being very conservative in laying out pricing scenarios. We figure that the price of oil will be somewhere between $60 and $65 per barrel. It is necessary for this reason to observe the strictest of financial discipline. At the same time, we are not perfectly confident that a second wave of crisis won't develop at the beginning or in the middle of the year, so we are being very cautious."
Lukoil, Russia's largest oil company and its largest producer of oil, has been severely impacted by the global recession. With its headquarters in Moscow, Lukoil is the world's second largest public company after ExxonMobil in terms of proven oil and natural gas reserves.
Fedun said that despite the company's cautious prognosis for oil's 2010 prices Lukoil will press forward with all its development projects nevertheless, including the development of Russia's offshore Caspian Korchagin deposits.
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