03-09-2010 09:37:11

Lukoil head Alekperov: My mission is not over

MOSCOW – Ethnic Azerbaijani businessman Vagit Alekperov who heads Russian oil major Lukoil has said he has no intention to step down for the time being, following media reports about his alleged resignation.

Alekperov said he was not contemplating about his successor and that much work remains to be done in his company.

“I believe my mission is not over yet. It is necessary to complete the restructuring and the development of a new strategy for Lukoil. This will still take quite a lot of time,” Alekperov, who turned 60 on Wednesday, told Russian business daily Vedomosti.

Regarding Lukoil’s new strategy, Alekperov said it dwells upon maximum profitability, efficiency and development.

He went on to say that he was currently not looking for his successor, but said there were quite a few people at Lukoil who could take the post.

Commenting on US major ConocoPhillips’ pullout from the Russian company’s capital stock, Alekperov said: “We believe that with ConocoPhillips’ withdrawal, a new stage begins in our company’s development – now without this strategic partner; now Lukoil is already working with many strategic partners, and for reasons including this one, we are preparing a new concept on the development strategy.”

TAGS: Azerbaijan, Baku, businessman, Vagit Alekperov, Russia, Lukoil, US major ConocoPhillips