Source Pravda.Ru

Lukoil sells shares to american oil company

The third in size American oil company ConocoPhillips intends to buy a package of shares of the Russian concern Lukoil to a value of up to $2 billion, the Russian newspaper Izvestia says. In exchange for Russian oil deposits, ConocoPhillips has agreed to sell 795 of its gasoline stations to Lukoil. This deal would double the presence of the Russian concern at the American retail oil market.

Incidentally, at his recent meeting with Lukoil CEO Vagit Alekperov and ConocoPhillips CEO James Malva, Vladimir Putin promised support to the Texas oil company not only for his part but also on behalf of the American President. This shows that ConocoPhillips' plans in Russia were coordinated beforehand by the heads of both states.

In the opinion of analyst of the Brunswick UBS company Paul Collison, the Americans will open the gate for Lukoil to the oil refining sector of America, and Lukoil, in reply, will fling the door open to Siberia for ConocoPhillips. He is convinced that "with such a strong political roof" both companies will be able in the future to easily open the gate to Iraq, Izvestia says.