Subscribe to our news feedLukoil to increase CPC share, oil and gas recruitment could result
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Published on Saturday 5th December 2009
Russian oil giant Lukoil is to increase its stake in the Caspian Pipeline Consortium, which could lead to more oil and gas recruitment opportunities. According to an upstreamonline report, Mikhail Barkov, vicepresident of Russian oil pipeline operator Transneft, said private shareholders in the group have made way for the firm to boost its share. The ExxonMobil and Chevronled conglomerates members reportedly waived their right to purchase BPs stakes in LukArco and Kazakhstan Pipeline Ventures. Mr Barkov explained that BPs involvement in the former by the end of December the same month in which shareholders are expected to meet to consent to a scheme to raise billions in funding to increase the capacity of the pipeline. This is expected to reach some 1.4 million barrels of oil per day. Meanwhile, in other Russian oil and gas recruitment news, TNKBP is to export oil to Asia as part of new plans to exploit the resources in the Chonskoye field in east Siberia. 
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