Rosneft and LUKoil, Russia’s two largest oil producers, plan to set up corporate structures for Arctic transit and offshore exploration projects by Aug. 1 as the companies seek to maintain output. State-controlled Rosneft and LUKoil will prepare “specific proposals” on the projects within a month after forming ventures, Vagit Alekperov, LUKoil‘s billionaire chief executive officer, told Prime Minister Vladimir Putin at a meeting on April 23, according […]