Word: lukoil
(lookup in dictionary)
(lookup stats)
Dates: all
Sort By: most recent first
(reverse)
...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...
...vote for December to decide whether to file for bankruptcy protection; a principal reason it hasn't already done so is that a majority of board members believe 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 a former German Justice Minister 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 lawyer who serves...
...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%. That's 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. (The company's Russian minority...
...INDICATORS Slick Moves In the largest ever post-Soviet privatization, U.S. oil major ConocoPhillips acquired Moscow 's 7.6% stake in Lukoil for almost $2 billion. The two firms plan to seek oil in Iraq 's West Qurna field...
...International Lineup Ralif Safin, founder of Russian oil giant Lukoil, became the latest suitor of U.K. football club Manchester United. Shares in the club rose almost 150% last year amid speculation of a takeover...