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. Last Updated: 07/27/2016

LUKoil Eyes KomiTEK

MOSCOW -- Russia's biggest oil company LUKoil is considering buying a controlling stake in a smaller oil company KomiTEK, a LUKoil spokesman quoted the company's president Vagit Alekperov as saying.

"The company is mulling several possible purchases, including KomiTEK," Alekperov reportedly said.

But Alekperov said many problems remained to be solved before this option went through, though he did not elaborate.

KomiTEK includes the Komineft oil production unit, the Ukhta refinery and the Kominefteprodukt products retail network, all in the northwestern autonomous Komi republic.