CHAR- Lukoil may be strapped for cash but they have found themselves a partner in Conoco Phillips, a major USA oil-gas co. In fact Conoco owns over 10% of Lukoil. Lukoil just put out a PR last Thursday saying that they and Conoco are looking to make joint acquisitions in europe but outside russia in the near future...hmmm..
MOSCOW, Sept 29 (Reuters) - Russia's largest oil producer, LUKOIL (LKOH.RTS: Quote, Profile, Research) , said on Thursday it would join up with U.S. oil firm ConocoPhillips (COP.N: Quote, Profile, Research) to buy assets outside Russia.
"We have set up a joint group with ConocoPhillips to buy new assets, including in Europe," Vice President Leonid Fedun said.
"In the nearest future you will hear about new acquisitions outside Russia."
Officials from the two companies have said LUKOIL and Conoco could make a joint bid for Russian oil firm YUKOS' stake in Lithuanian refiner Mazeikiu Nafta (MNF1L.VL: Quote, Profile, Research) .
Conoco was not immediately available for comment.
