Support The Moscow Times!

LUKoil Likely to Keep Stake

LUKoil is unlikely to resell the shares it bought back from its strategic investor ConocoPhillips as the U.S. major cut back its holdings, Andrei Gaidamaka, head of investment analysis at LUKoil, said Tuesday.

ConocoPhillips has now sold more than 13 percent and is expected to sell the remainder on the market. Gaidamaka said LUKoil did not plan to buy the shares on the market, but that would depend on the price.

(Reuters)


Read more

Independent journalism isn’t dead. You can help keep it alive.

As the only remaining independent, English-language news source reporting from Russia, The Moscow Times plays a critical role in connecting Russia to the world.

Editorial decisions are made entirely by journalists in our newsroom, who adhere to the highest ethical standards. We fearlessly cover issues that are often considered off-limits or taboo in Russia, from domestic violence and LGBT issues to the climate crisis and a secretive nuclear blast that exposed unknowing doctors to radiation.

Please consider making a one-time donation — or better still a recurring donation — to The Moscow Times to help us continue producing vital, high-quality journalism about the world's largest country.