Lukoil receives approval of Samara-Nafta deal

Lukoil received the approval of the authorities to close the deal on the acquisition of Samara-Nafta.

Lukoil Holdings, Russia's second-largest crude oil producer, had bought Samara-Nafta, an oil producer based in the Samara and Ulyanovsk regions in southwest Russia, as it attempts to increase production after years of dwindling output at its main fields.

Lukoil signed a purchase agreement for $2.05 billion for a 100% stake in the producer, which has annual output of around 2.5 million metric tons.