Russia’s Lukoil may consider spinning off or selling its downstream assets in Europe to focus on exploration both in Russia and abroad, Chief Executive Vagit Alekperov told Reuters in an interview. Lukoil, which is pumping around 2 million barrels of oil per day (bpd) – a little less than OPEC member Venezuela does – is refocusing on upstream both at home and abroad, Alekperov said. “Most likely, in the future, we will consider the following step: Spinning off (the European downstream business to) a European downstream company or selling the assets. In the medium-term, the company will focus on geological exploration.” Lukoil is not alone in the move: Global oil majors Chevron Corp and Royal Dutch Shell are putting small refineries […]