Tuesday, October 17, 2006
Lukoil: to be worth USD 150bn - USD 200bn by 2016, plans acquisitions; vice-president denies plans to buy into ConocoPhillips - report
Lukoil: to be worth USD 150bn - USD 200bn by 2016, plans acquisitions; vice-president denies plans to buy into ConocoPhillips - report
Story Lukoil, the listed Russian oil firm, will be worth USD 150bn – USD 200bn by 2016, reported Vedomosti.
The paper referred to a copy of a presentation project of Lukoil's new strategy, which highlights the company gaining international status and expanding operations via organic growth and new acquisitions.
Vedomosti cited various experts and wrote that Lukoil will have to acquire in Russia and abroad to achieve its financial and production goals. Venezuela and Central Asia could be potential expansion areas, one expert said.
Two investment bankers suggested that Lukoil could merge with its US peer ConocoPhillips and that shareholders of the Russian firm are considering a public share issue for ConocoPhillips’s shareholders.
One source said that Lukoil could use 20% - 25% of its stake for the transaction. A few weeks ago Lukoil vice-president Leonid Fedun rejected news that the company is preparing a purchase or assets swap with ConocoPhillips, Vedomosti wrote.
Source Vedomosti
Story Lukoil, the listed Russian oil firm, will be worth USD 150bn – USD 200bn by 2016, reported Vedomosti.
The paper referred to a copy of a presentation project of Lukoil's new strategy, which highlights the company gaining international status and expanding operations via organic growth and new acquisitions.
Vedomosti cited various experts and wrote that Lukoil will have to acquire in Russia and abroad to achieve its financial and production goals. Venezuela and Central Asia could be potential expansion areas, one expert said.
Two investment bankers suggested that Lukoil could merge with its US peer ConocoPhillips and that shareholders of the Russian firm are considering a public share issue for ConocoPhillips’s shareholders.
One source said that Lukoil could use 20% - 25% of its stake for the transaction. A few weeks ago Lukoil vice-president Leonid Fedun rejected news that the company is preparing a purchase or assets swap with ConocoPhillips, Vedomosti wrote.
Source Vedomosti
