Lukoil Expects 5.5% Decline In 2011 Oil Production

OAO Lukoil Holdings projects its 2011 oil production to drop 5.5% from 2010.

Lukoil expects its 2011 crude oil production to be 90.7 million metric tons. The company projects its 2011 natural gas output to reach 22 billion cubic meters, 3.2% higher than in 2010.