SOCHI, September 21 (RIA Novosti)
LUKoil, Russia's largest privately-owned oil company, has broken off talks with state-owned Rosneft over cooperation on offshore shelf projects, LUKoil's head Vagit Alikperov said on Friday.
"The talks have stopped," he said, "while the two sides cannot find mutually beneficial projects."
LUKoil has also suspended plans to list on the Hong Kong stock exchange, Alekperov said.
“Today the company’s financial situation is stable. We have put off examining this question [of a Hong Kong listing],” he said, adding there would be no listing in Hong Kong in 2013.
LUKoil previously said it would consider an SPO listing worth $2-3 billion in Hong Kong.
Alikperov says LUKoil expects production this year to reach 91 million tons, the same as the previous year.
The company will consider in October whether to make interim dividend payments, he said.
"We think the next board of directors' meeting will be in October. It will study that question," he said.
The company intends to maintain its policy of paying dividends of around 25 percent of net profit, he added.
In June, shareholders at the annual general meeting approved a dividend payment of 75 rubles per share for 2011, up 27.1 percent on the previous year's 59 rubles per share.
Add to blog
You may place this material on your blog by copying the link.
Image Galleries: Yury Gagarin: Life of the First Man in Space in Pictures
Infographics: Sledge Hockey
The unconstitutional takeover in Ukraine was the toughest, consistent and so far most effective Western counterattack launched amid the ongoing struggle for a fairer world order. Only the naïve believe that the United States and Europe will willingly share their right to rule the world, though their belief is worthy of respect.