Conoco leads race for 25% in Lukoil
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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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Russia&#39;s state-owned Gazprom may complete takeovers next month that will give it almost one-fifth of the nation&#39;s oil output, worth more than $20 billion this year.
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Vagit Alekperov, president of Lukoil, gained a new American partner Wednesday, in a deal with ConocoPhilips that was sealed by the Kremlin.
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NEW YORK, August 27 (New Ratings) - ConocoPhillips (COP.NYS) is reportedly seeking to buy up to a 25% stake in the Russian oil company, Lukoil, which contributes 19% each to the country&#39;s crude oil output and reserves.
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ConocoPhillips, the third biggest U.S. oil company, reportedly plans to exercise its right to double its stake in the Russian oil producer OAO Lukoil to 20 percent.
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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 No. 3 U.S. oil company, posted higher fourth-quarter earnings on Wednesday, beating Wall Street expectations on record oil prices.
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ConocoPhillips said on Wednesday it was  seeking 20 percent of Russia's LUKOIL in a far-reaching  alliance which opens the way for the oil majors to tap vast  reserves in northern Russia and Iraq.
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No. 3 US oil company ConocoPhillips (COP.N: Quote, Profile, Research) on Wednesday forecast higher capital spending in coming years and reaffirmed its production targets, banking on rising output in the Asia-Pacific region.
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US oil major ConocoPhillips is seeking to buy up to 25 percent 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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MOSCOW ConocoPhillips won 7.59 percent of the Russian oil giant Lukoil for $1.988 billion on Wednesday in a largely symbolic auction that still ranks as the Russian government&#39;s most lucrative post-Soviet privatization.
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U.S. oil major ConocoPhillips won an  auction for a 7.6 percent state stake in Russian oil giant  LUKOIL with a bid of $1.988 billion, the Russian property fund  said on Wednesday.
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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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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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When the Russian government&#39;s 7.6 percent stake in Lukoil - the world&#39;s No. 2 oil company by reserves - is auctioned Wednesday in the nation&#39;s biggest privatization, industry watchers aren&#39;t expecting any surprises.
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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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ConocoPhillips has bought a major stake in Russia&#39;s second largest oil producer OAO Lukoil Holdings. The Houston company, formed by a merger of Conoco and Phillips Petroleum, won