Conoco Wins $2 Billion LUKOIL Stake
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ConocoPhillips said on Wednesday it was seeking 20 percent in Russia&#39;s LUKOIL in a far-reaching alliance opening the way for the two oil majors to tap vast reserves in northern Russia and Iraq.
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An oil company controlled by the Russian government said that it had bought the company that had won Sunday's auction for the largest subsidiary of Yukos.
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In a deal paving the way for future joint ventures, U.S. oil giant ConocoPhillips on Wednesday won an auction with a bid of nearly &#36;2 billion for the Russian government's 7.6 percent stake in Russia's Lukoil &#151; the world's No. 2 oil company by reserves.
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MOSCOW - U.S. oil giant ConocoPhillips on Wednesday paid nearly $2 billion for a 7.6 percent stake in Russia's Lukoil - the world's No...
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ConocoPhillips said on Wednesday it was  seeking 20 percent of Russia's LUKOIL in a far-reaching  alliance that opens the way for the oil majors to tap vast  reserves in northern Russia and Iraq.
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A successful bid by ConocoPhillips of the US for 7.96 per cent in Lukoil this week belies a broader sense of disappointment at the size of Russia-bound foreign direct investment (FDI).
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Gazprom and U.S. energy company ConocoPhillips Co. have signed a memorandum of understanding on the development of a large Barents Sea gas field, the Russian state-run gas giant said Wednesday.
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Russian privatisation officials set a starting price of nearly $2bn for next month's auction of a stake in oil giant Lukoil.
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Nexen Inc. agreed to buy fellow Canadian energy company EnCana Corp.&#39;s UK business for $2.1 billion, gaining control of Britain&#39;s biggest oil discovery in more than a decade amid record crude prices.
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The government stake in OAO Lukoil, Russia&#39;s largest oil producer, will be sold for at least $1.93 billion next month in the biggest state asset sale in the country&#39;s history.
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MOSCOWâConocoPhillips Co. has won an auction for a 7.6 per cent stake in Russia&#39;s OAO Lukoil Holdings and says it aims to raise that to 20 per cent in an alliance that would allow the two oil majors to tap vast reserves in northern Russia and Iraq.
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U.S. oil giant ConocoPhilipps on Wednesday bought the Russian government's 7.6 percent stake in Lukoil &#151; the world's No. 2 oil company by reserves &#151; in Russia's biggest privatization.
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In the country&#39;s biggest-ever privatization auction, ConocoPhillips on Wednesday paid nearly $2 billion for a 7.59 percent stake in LUKoil, sealing a strategic alliance between the oil majors and revitalizing energy ties between Russia and the United
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ConocoPhillipsâs nearly $2 billion strategic investment in Russia may have been marked by an American flag flying over the headquarters of Lukoil, the countryâs second largest oil producer.
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Britain&#39;s BP said Friday it had agreed to sell its stake in a Siberian gas field development to Russian monopoly Gazprom for up to 900 million dollars (669 million euros), as Moscow tightened its grip on its natural resources.
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ConocoPhillips said it probably will add the equivalent of 800 million barrels of oil to its proved reserves after its $1.99 billion investment in OAO Lukoil, Russia&#39;s biggest oil company, and a planned increase in the stake.
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US oil major ConocoPhillips bought a 7.6 per cent government stake in Russia&#39;s second-largest producer LUKoil for nearly $US2 billion on Wednesday in the nation&#39;s largest post-Soviet privatisation deal.