16 June 2004 08:06
ConocoPhillips Interested in Russian Lukoil and Polish PKN
The American fuel giant ConocoPhillips, PKN Orlen's partner in the acquisition of the Czech firm Unipetrol, is
interested in buying a 7.6 percent stake in the Russian giant Lukoil from the Russian government. The Americans may also
want to buy PKN Orlen's shares from the state agency Nafta Polska. If both transactions take place, Conoco will
become the main player on the former Eastern bloc market. According to the Russian daily Wiadomosti, after purchasing
the 7.6 percent stake in Lukoil, the Americans would also like to buy shares from the company's managers so that
Conoco's stake reaches 25 percent and one share - in Russia this is enough to block strategic decisions. The
Russian government has previously announced that it wants to sell a stake in Lukoil either through a tender or through a
public offering in London, where the company is already listed. The resulting diversification of oil supplies may be of
importance to Orlen.
[Polish News Bulletin] |
RUSSIA IN FACTS
