Russia to Sell One-Third of LUKoil

The Russian government has signed an order to sell its stake of 7.6 percent in oil and gas giant LUKoil, Economic Development and Trade Minister German Gref said Thursday. He did not give the details.
According to Andrei Sharonov, the government would sell the stake in one chunk by October.
The sale is set to become the country's largest privatization deal this year as the stake is worth $1.7 billion at the firm's current market capitalization of $22.8 billion.
ConocoPhillips has interested in purchasing the stake in LUKoil, which is the world's second-largest oil firm in terms of proved oil reserves after ExxonMobil.
Conoco president Jim Malva met with President Vladimir Putin and LUKoil chief Vagit Alekperov in Krasnodar on Thursday, to negotiate.