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. Last Updated: 07/27/2016

LUKoil to Focus on Cash for Share Buy Backs

LUKoil is to switch its focus from higher production to an increase in free cash flow, and will use the extra revenue to buy back shares and pay dividends.

It said it would boost cash flow via the spinoff of less efficient assets, geographical diversification and modernizing oil refineries, among other measures.

(Reuters)