Finance

Lukoil posts rare quarterly loss as impairments and forex bite

However, Russian oil producer also cut its short-term debt to withstand shortfall of revenues during the second quarter as it has to reduce oil production to comply with Opec quota

Tough times: Gas is flared at the Filanovskogo oil production platform, operated by Lukoil in the Russian sector of the Caspian Sea
Tough times: Gas is flared at the Filanovskogo oil production platform, operated by Lukoil in the Russian sector of the Caspian SeaPhoto: REUTERS/SCANPIX
  • Vladimir Afanasiev
Moscow
Published 3 June 2020, 15:37Updated 3 June 2020, 15:37
LukoilRussiaOpecWest Qurna 2Europe