RusEnergy

27.01.2006 IntelliNews Today - According to US-based oil major ConocoPhillips' CEO James Mulva, the company is going to increase its stake in LUKoil to 20%. As the executive reminded, its stake in LUKoil already was up from 14.8% to 16.1% in Q4/05. The acquisition of additional LUKoil shares is a part of ConocoPhillips' USD 14bn investment program for 2006. Under the shareholders' agreement signed in 2004, the American company acquired 7.59% of LUKoil’s shares for USD 1.988bn. The deal stipulated that ConocoPhillips may increase its stake in Russian oil major to 20%.