ConocoPhilipps Wins Stake in Lukoil
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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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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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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  - U.S. oil giant ConocoPhillips Inc. agreed to pay nearly &#36;2 billion US Wednesday for the Russian government's remaining 7.6 per cent stake in Lukoil, the world's No. 2 oil company. The deal is 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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MOSCOW : US oil major ConocoPhillips has boosted its stake in Russia&#39;s second-largest oil producer LUKoil to 10 percent, giving Conoco at least one representative on LUkoil&#39;s board.
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MOSCOW Oil giant ConocoPhillips of the US is paying nearly two (b) billion dollars for a seven percent stake in Russia&#39;s Lukoil.
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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 &#36;1.988 billion, the Russian property fund said on Wednesday.
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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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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.
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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 major ConocoPhillips is seeking to buy up to 25  percent in Russian oil giant LUKOIL LKOH.RTS, booking  billions of barrels of new reserves, an industry source  familiar with the matter said on Friday. ConocoPhillips shares  closed at $72.70 on the New York Stock Exchange.
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ConocoPhillips  posted higher fourth-quarter earnings on Wednesday, beating Wall Street expectations on record oil prices.
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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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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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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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DALLAS (CBS.MW) - ConocoPhillips&#39; deal to buy a stake in Russia&#39;s Lukoil has blockbuster potential for the US company because it opens up vast areas for exploration and development previously off-limits to Western firms, analysts said Wednesday.
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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.