OAO Lukoil, Russia’s second largest oil producer, plans to spend 285 billion rubles ($9 billion) on refining upgrades to 2016, billionaire Chief Executive Officer Vagit Alekperov said on state television.
OAO Lukoil, Russia’s second-largest oil company, climbed to an eight-week high in New York after the crude producer said billionaire Chief Executive Officer Vagit Alekperov bought $498 million of shares since late June.
Bloomberg Markets’ inaugural list of the world’s richest people showcases the billionaires who pull the levers on the global economy. Their net worth totals $2.7 trillion, about the size of the gross domestic product of France, the fifth-biggest economy on the planet.
OAO Lukoil, Russia’s second-largest oil producer, pumped the first oil from the West Qurna-2 project in Iraq and expects to start sales this year, helping the war- ravaged nation expand output and rebuild its energy industry.