Lukoil (LUKOY.PK) walks away from a plan to make a $1.8B shale acquisition in the U.S. as...

|By:, SA News Editor

Lukoil (LUKOY.PK) walks away from a plan to make a $1.8B shale acquisition in the U.S. as sliding natural gas prices destroyed the economics of a deal. "We examined this project in detail and had to suspend its development on valuation," says CEO Leonid Fedun.