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. Last Updated: 07/27/2016

LUKoil to Up Exports

KOGALYM -- Russia's biggest crude oil producer, LUKoil, said Monday that it planned to increase oil exports to 29 million tons in 1999 from 24.7 million tons in 1998.

The company also said in its annual 1998 report that it expected its 1999 consolidated pretax profit to soar to between 20 billion rubles and 25 billion rubles ($825.8 million to $1.03 billion) from 2.03 billion rubles in 1998.

However, LUKoil planned to cut 1999 oil output slightly to between 63.4 million and 64 million tons from 64.2 million tons last year.