ConocoPhillips Acquires Russian Government&#39;s Stake in Lukoil
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American oil giant ConocoPhillips has acquired the Russian government&#39;s 7.59 percent stake in Lukoil, one of Russia&#39;s largest crude producers, for $1.
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MOSCOW The Russian government said Thursday it would auction its 7.59 percent stake in Lukoil next month with an opening price of $1.
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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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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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ConocoPhillips paid nearly $2 billion at auction for the Russian government's stake in Lukoil, a purchase that could allow Conoco to become the first Western company to return to Iraq's oil fields.
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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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MOSCOW Houston-based ConocoPhillips is seen as the front-runner in an auction for a stake in the Russian oil company Lukoil. A seven-point-six percent stake in the world&#39;s Number Two oil company by reserves
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The government on Thursday set the date and starting price of an auction for its remaining stake in LUKoil and officially confirmed that US oil major ConocoPhillips will participate.
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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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U.S. oil major ConocoPhillips launched a  $628 million two-day tender to boost its stake in new Russian  strategic partner LUKOIL to 10 percent, the U.S. firm said on  Thursday.
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MOSCOW, June 22 -- The state-controlled energy giant Gazprom on Friday bought a vast natural gas field in Siberia from a unit of  British-based petroleum conglomerate BP, continuing the Kremlin's policy of shifting control of the country's major energy projects from foreign to state hands.
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MOSCOW : Russia moved to bolster its role in the strategic energy sector as gas giant Gazprom said it would acquire state oil firm Rosneft, handing the government control of the world&#39;s largest gas producer.
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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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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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US oil giant ConocoPhillips yesterday paid nearly $2 billion for a 7.6 percent stake in Russia&#39;s Lukoil -- the world&#39;s number two oil company by reserves -- in Russia&#39;s biggest privatization.
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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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Russian oil giant Lukoil Holdings is planning a $1 billion joint investment with Venezuela's state-run oil company, a top Lukoil official said Thursday.