Lukoil said to be in talks with oil majors to sell Venezuela stake

Russian oil producer Lukoil (LUKOY, LUKOF) reportedly has been in talks with international majors about selling its stake in a consortium developing a large oil project in Venezuela.

Lukoil has said it wanted to sell its 20% stake in the Russian Junin-6 consortium developing heavy oil in the Orinoco basin to focus on other projects; consortium leader Rosneft apparently made a low-ball offer, and Lukoil has since held talks with Cnooc (CEO), Sinopec (SNP), Statoil (STO), Chevron (CVX), Total (TOT) and various state-run firms.

The Russian consortium owns a 40% stake in the project; Lukoil's stake in the consortium is said to be worth ~$200M.

Comments (2)
  • youngman442002
    , contributor
    Comments (5123) | Send Message
    anyone who buys this is very stupid....The Socialists will just take it from you in time
    6 Dec 2013, 08:52 AM Reply Like
  • smurf
    , contributor
    Comments (6439) | Send Message
    CVX would have to be on drugs to buy anything in Venezuela. Gads!
    6 Dec 2013, 10:01 AM Reply Like
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