ConocoPhillips Buys Stake in Lukoil
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MOSCOW Sept. 29, 2004 - In a deal paving the way for future joint ventures, US oil giant ConocoPhillips on Wednesday won an auction with a bid of nearly $2 billion for the Russian government&#39;s 7.6 percent stake in Russia&#39;s Lukoil the world&#39;s No.
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U.S. oil giant ConocoPhillips paid nearly $2 billion for a 7.6 percent stake in Russia's Lukoil -- the world's No. 2 oil company by reserves.
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Moscow, 29 September: LUKoil and ConocoPhillips are to carry out joint work in Iraq, LUKoil vice-president Leonid Fedun told journalists today immediately after the sale at auction of the state package of shares in LUKoil.
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Russian state oil firm Rosneft has bought the core unit of Yukos, nationalizing more than 10 percent of the country&#39;s crude output and dealing a shattering blow to a once flourishing private enterprise.
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The US oil giant ConocoPhillips on Wednesday won an auction to purchase state-held stake of Russia&#39;s second largest oil producer Lukoil.
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Fresh from a new alliance with ConocoPhillips, Lukoil is trying to transform itself from a Russian oil company to an international oil giant.
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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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US oil major ConocoPhillips bought a 7.6-percent government stake in Russia's second-largest producer LUKoil for nearly two billion dollars in the nation's largest post-Soviet privatization deal.
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ConocoPhillips, the third-largest US oil company by sales, is set to pay at least $1.9 billion for the Russian government&#39;s remaining stake in OAO Lukoil, the nation&#39;s largest oil producer.
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Bidding begins in an auction for a 7.6% government-held stake in Russian oil giant Lukoil.
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US oil company is looking to buy up to 25% stake in the Russian oil giant, source says. MOSCOW  - US oil major ConocoPhillips is seeking to buy up to 25 percent in Russian oil giant Lukoil, booking
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Front-runner Conoco Phillips today won the auction for 7.6 per cent of Russian oil and gas group Lukoil, bidding some $2 billion, in a deal that also takes the US group into a joint venture to exploit the Timan-Pechora area of Russia.
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MOSCOW  - In a deal paving the way for future joint ventures, U.S. oil giant ConocoPhillips has won an auction with a bid of nearly &#36;2 billion US for the Russian government's 7.6 per cent stake in Russia's Lukoil - the world's No.&#160;2 oil company by reserves.
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MOSCOW: Us oil major ConocoPhillips is seeking to buy up to 25% in Russian oil giant Lukoil to add billions of barrels of reserves to its books, an industry source familiar with the matter said on Friday.
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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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: ConocoPhillips said on Wednesday it was seeking 20 per cent in Russiaâs 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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US oil major ConocoPhillips is seeking to buy up to 25 percent in oil giant LUKoil to add billions of barrels of reserves to its books, an industry source familiar with the matter said Friday.