LUKoil-Conoco Deal Opens Way to Iraq
By Valeria Korchagina Staff Writer
In the country's biggest-ever privatization auction, ConocoPhillips on Wednesday paid nearly $2 billion for a 7.59 percent stake in LUKoil, sealing a strategic alliance between the oil majors and revitalizing energy ties between Russia and the United States.
LUKoil and ConocoPhillips also agreed Wednesday to set up two potentially lucrative joint ventures in the Timan-Pechora fields in northwest Russia and in Iraq, where a LUKoil project was thrown into doubt ahead of the U.S.-led invasion last year.
http://www.themoscowtimes.com/stories/2004/09/30/001.html
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