Support The Moscow Times!

Conoco Sells LUKoil Shares

ConocoPhillips completed the sale of its remaining 2 percent holding in LUKoil, the latter company said in a statement Tuesday.

Conoco, which once held as much as 20 percent of LUKoil, had reduced its stake in the Russian company to 2 percent at the end of last year. Conoco sold its stake to repay debt and buy back shares. Conoco and LUKoil remain partners in the Naryanmarneftegas oil production venture in the Timan Pechora region.


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.

As we approach the holiday season, 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.