Lukoil Mulls Sale of Litasco Trader, CEO Confirms

Vagit Alekperov, the Chief Executive Officer of Russia's No.2 oil producer Lukoil , confirmed on Wednesday that the company was considering the sale of Swiss unit Litasco.

 

He also told reporters the board of Lukoil would take a decision on the Litasco sale in November.

 

Earlier on Wednesday, industry sources told Reuters that Lukoil was considering selling Litasco because new U.S. sanctions on Russia would make it harder for the Geneva-based energy trader to raise new funds.


(Reporting by Olesya Astakhova; writing by Vladimir Soldatkin; editing by Dmitry Solovyov)