CEO: Lukoil looking to expand Asian business

BEIJING (AP) — The chief executive of Lukoil says the Russian oil giant is looking for Chinese partners as it tries to expand its business in East Asia.

Vagit Alekperov said Monday he planned to meet this week with Chinese state-owned oil giants to discuss possible areas for cooperation.

Alekperov said OAO Lukoil, Russia's second-largest oil producer, wants to increase exports of crude oil and products such as lubricants to China and other East Asian markets.

U.S. government data show China overtook the United States in September as the world's biggest oil importer, driven by rising auto ownership and strong economic growth.

Lukoil has said it wants to list its shares on the Hong Kong stock exchange but Alekperov said that was delayed by regulatory hurdles.

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