State Prepares LUKoil Shares for Auction Block

According to LUKoil President Vagit Alekperov, a 7.55% state-owned stake in LUKoil may be sold in 2005.

Alekperov said that the stake of LUKoil was initially included into the privatization program for 2004. He said the government is currently preparing a resolution to postpone sale of the state-owned stake to 2005.

Alekperov added that the government did not turn to LUKoil for consultations about the sale of the state-owned stake in the company.