LUKoil is considering investing in a refinery with ConocoPhillips to process Russian crude on the East Coast of the United States, the Kremlin said Monday in documents prepared for the visit of U.S. President Barack Obama.

“That kind of idea is in discussion,” LUKoil spokesman Dmitry Dolgov said. “When it will be realized or if it will be realized is impossible to say now. We are looking at that kind of possibility.”

Janet Grothe, a spokeswoman for ConocoPhillips, said in an e-mail that the company had no plans to build a new U.S. refinery.

The documents did not give details of potential investments. LUKoil, the country’s second-largest oil producer, has stakes in five refineries outside Russia and controls more than 1,500 gas stations in the United States.

ConocoPhillips, which has the second-largest refining capacity in the United States, owns 20 percent of LUKoil.

(Bloomberg, Reuters)