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Lukoil Reports 19.1 Percent Lower Expenditures in Iraq's West Qurna 2 Project

This decrease partly attributed to moving to the maintenance oil production stage at the West Qurna-2 project in Iraq.

In its third-quarter and nine-month results announced on Monday, Russia’s Lukoil reports that its capital expenditures for the first nine months of 2016 were 19.1 percent lower than in the corresponding period of 2015.

This decrease partly attributed to moving to the maintenance oil production stage at the West Qurna-2 project in Iraq.

But the company’s results were also impacted by a decrease in the compensation amount from West Qurna-2

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