SOCHI, Russia (Sputnik) – Russia’s Lukoil and Saudi Aramco are discussing opportunities for cooperation on the African continent and elsewhere, Vagit Alekperov, the president and CEO of the company, said on Wednesday.
When asked at what oil prices projects in Africa proved to be economically profitable, Alekperov said that they showed profit when oil was at around $60 per barrel.
On Tuesday, the OPEC Reference Basket of crude oil, which calculates the average price of various crude oil prices from OPEC members, was $59.78.
Russia’s Lukoil to Sign MoUs on Refining, Shelf Projects With African Nations – Chief
According to him, “these are mostly projects linked to the shelf, plus, a number of African countries have asked us to study and comment on downstream”.
The Rossiya Segodnya International Information Agency is an official media partner of the two-day forum, which opened on 23 October.