Lukoil Begins Effort to Build Ties Globally
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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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With the president of El Salvador as a witness, leaders of the Salvadoran immigrant business community last week took a key step forward by establishing the first formal commercial ties with each other and with their home country.
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ConocoPhillips has increased its stake in Lukoil to 10 percent, an official in the Russian company said Wednesday, positioning the US oil giant to claim a seat on the board of the world&#39;s No.
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ConocoPhillips won a $2 billion stake in Russia's Lukoil and said it aimed to raise that to 20 percent in a sweeping alliance that allows 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 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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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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RUSAL said the move was part of an effort to build a globally competitive Russian metals and mining company.
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Leaders of natural gas-rich Russia and Qatar announced Monday they would explore the creation of a natural gas cartel to represent the interests of producer countries to influence the global market.
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MOSCOW: Oil giant ConocoPhillips looked close to taking a $US2 billion ($NZ3.11b) stake in Russian major Lukoil on Thursday after Russian officials confirmed the US firm&#39;s interest in the auction of a 7.6 per cent stake.
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Officials call on international community to open crossing points for trade.
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"That's the task of the summit, to establish general principles of cooperation."  Russian President Vladimir Putin flies to Croatia on Sunday to launch a new energy strategy for the Balkan countries of southeast Europe. via Peak Oil
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The Russian government said Thursday that it would hold an auction Sept. 29 to sell its 7.59 percent stake in Lukoil, the giant oil company, at a starting price of $1.
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International mediators are to try to break the deadlock caused by Ukraine's disputed presidential elections.
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Foreign policy chiefs from around the globe have been lining up to visit Israeli and Palestinian officials, proclaiming a new era of opportunity has arrived.
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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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U.S. oil giant ConocoPhillips Inc. agreed to pay nearly &#36;2 billion Wednesday for the Russian government's remaining 7.6 percent stake in Lukoil, the world's No. 2 oil company &#151; a deal expected to clear the way for joint ventures in Siberia and Iraq, while allaying broader concerns about the Kremlin's commitment to foreign investment.
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Russia is trouncing the West in the race to gain access to its neighbors enormous oil and gas reserves.