Lukoil Begins Stock Buy-Back Program


Russian oil company Lukoil announced Tuesday the start of an open market repurchase of the company’s shares and the corresponding depositary receipts for an aggregate amount of up to $3 billion.

The duration of the buy-back programs is from October 1, 2019 to December 30, 2022.

Purchases pursuant to the program will be made by Lukoil Securities Limited, a wholly owned subsidiary of the company, on the regulated trading venues in compliance with all applicable laws and regulations.

Purchases will be executed by qualified international brokers, the company said.

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