Russian oil giant Lukoil is discussing a joint venture with ConocoPhillips of the US, according to a press report
Published:
11 November 2003 y., Tuesday
Russian oil giant Lukoil is discussing a joint venture with ConocoPhillips of the US, according to a press report.
Lukoil chief Vagit Alekperov and James Mulva of ConocoPhillips opened talks on a joint venture in September, the Financial Times reported.
"This process is under way," the FT quoted Lukoil vice president Leonid Fedun as saying. The joint venture would focus on oil fields in northern Russia with a reserves of a billion barrels of oil. But Mr Fedun stressed that there was no question of ConocoPhillips buying Lukoil outright.
"We are not planning to sell the company. We are building Lukoil to give it to our children," he told the FT.
The report comes as foreign investors are reassessing the risk of backing Russian firms in the wake of a government investigation into the country's biggest oil firm, Yukos. The investigation culminated with the arrest on fraud and tax evasion charges of former Yukos chief executive Mikhail Khodorkovsky.
Šaltinis:
BBC News
Copying, publishing, announcing any information from the News.lt portal without written permission of News.lt editorial office is prohibited.
The most popular articles
On 31 August 2009 in a non-public way AB Bank SNORAS issued the emission of perpetual debt securities included into the bank capital amounting to LTL 72.5 million.
more »
The European Commission, through its longstanding cooperation with the US and Canada, announces the launch of 33 new and innovative projects involving universities and training institutions on both sides of the Atlantic.
more »
Today at the VII World Congress on Alternatives and Animal Use in the Life Sciences in Rome, the European Commission and the European cosmetic industry presented their joint financial effort for research into alternative safety testing methods.
more »
SEB Bank, the largest bank in Lithuania, invests almost LTL 4.6 million in to the upgrade of its data transmission network.
more »
The World Bank’s Board of Executive Directors today approved a credit of US$ 36.6 million equivalent of additional financing for the Lifeline Road Improvement Project for Armenia.
more »
The Executive Board of the International Monetary Fund (IMF) today completed the first review of Latvia's performance under an economic program supported by a 27-month Stand-By Arrangement.
more »
The Commission has today decided to close the formal investigation procedure into the privatisation and restructuring of Austrian Airlines concluding that the restructuring following its sale to Lufthansa is compatible with community law.
more »
Ben Bernanke's reappointment as head of the Federal Reserve did not come as a surprise, but Wall Street still responded with the proverbial thumbs up.
more »
Over I half-year 2009 accommodation establishments had by 22 per cent less guests.
more »
In the first such transaction in Russia, carbon credits generated by utilising gas which would otherwise be flared at an oilfield in eastern Siberia are to be purchased through a carbon fund set up by the EBRD and the European Investment Bank (EIB), the Multilateral Carbon Credit Fund (MCCF).
more »