Massive power outage recently seen again in Caracas, Venezuela may cause Russia's second largest oil producer Lukoil (NASDAQOTH:LUKOY) to seek more stable growth. Considering the company's CEO said last month they wanted to expand Lukoil's presence in China with increased exporting of oil and gas, the recent power outage in Venezuela, which affected 70% of the country's population, may only intensify the allure of gaining Asia partners, especially since they already have relationships with PetroChina (NYSE:PTR) and Sinopec (NYSE:SHI).
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