Word: lukoil
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Dates: during 2000-2009
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...Gholam Hossein Nozari told a recent industry conference in Vienna. Iran's state-owned oil company, which controls the world's second-largest oil and natural-gas reserves, is auctioning 17 oil blocks that could attract nearly $600 million in foreign investment. Norway's Statoil ASA, Russia's OAO Lukoil Austria's OMV AG, and Spain's Repsol SA were involved in the two-day conference in Vienna, where the tenders are being presented. According to Nozari, Iran needs about $94 billion of foreign investment by 2014 to bolster oil and gas production, especially because its current output is dropping...
...system relies on private money to bankroll athletes once taken care of by the state. Big Russian businesses like Lukoil and Sberbank have coughed up at least $300,000 each as sport sponsors. Eminent coaches like Tarasova and Moskvina returned from overseas to a Russia where some parents were now willing to pay lavishly for private lessons. Even the Russian Olympic Committee stepped in, offering a $50,000 reward to gold medallists. In figure skating, at least, this commercially driven program is churning out champions. Three nights after the Russian pair claimed gold, Siberian native Evgeny Plushenko, whose childhood rink...
...last wednesday of September, Russia's second largest oil company, Lukoil, hoisted the Stars and Stripes up a flagpole outside its Moscow headquarters to celebrate a landmark deal: with a $2 billion bid, the U.S. firm ConocoPhillips had just won an auction for the Russian government's 7.6% stake in the firm. The two companies promptly announced a strategic alliance to develop oil reserves in the Russian Arctic and potentially work together in Iraq. For Jim Mulva, Conoco's president and chief executive, the deal amounted to a coup, giving Conoco access to 8 billion bbl. of proven oil reserves...
...shareholder vote called to decide whether to file for bankruptcy protection; a principal reason Yukos hasn't already done so is that a majority of the board believes it would be impossible to find a Russian court willing to approve the petition. Indeed, the day before Conoco signed the Lukoil deal, the Moscow court where Khodorkovsky is on trial refused to allow former German Justice Minister Sabine Leutheusser-Schnarrenberger, who's serving as an official European human-rights representative, to speak with him. The Yukos case "has set the Russian judicial system back a decade," says Sarah Carey, a Washington...
...mean the central government wants to nationalize all energy assets, but it has put an end to generous tax breaks and has introduced other limitations on the private sector, particularly foreign companies. Under the terms of the Conoco deal, for example, the American company can raise its stake in Lukoil - but only to a ceiling of 20%, less than the 25% it needs to be able to block strategic company decisions. BP, by contrast, whose contract was signed eight months before Khodorkovsky's arrest, has a 50% share in its Russian joint venture. "That's a deal...