Lukoil Oil Output Falls 1.7 Percent in 2010 on Siberian Declines

OAO Lukoil’s crude output fell about 1.7 percent last year as aging western Siberian fields declined, while natural-gas production climbed more than 12 percent.
Oil output slid to 96 million metric tons, the Moscow-based company said today in a statement. That’s down from 97.6 million the previous year, according to its website. Gas production rose to 20 billion cubic meters, Lukoil said after its board approved preliminary 2010 results and plans for 2011.
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Source: Bloomberg