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LUKOY.PK

Lukoil Co Spons Adr

5/19/2013, 3:24 PM ET

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Wednesday, April 24, 10:29 AM Lukoil denies a report that it plans to buy a stake in Brazilian oil company OGX Petroleum (OGXPY.PK +0.9%), which has seen its share price plunge in recent weeks on financing concerns. On Sunday, a Brazilian newspaper said controlling billionaire Eike Batista was in talks to sell a 40% stake to the Russian company. Comment! [Energy, Global & FX]
Monday, April 22, 12:08 PM Brazil's OGX Petroleum (OGXPY.PK +14.6%) reportedly is in talks to sell a 40% stake in the company to Lukoil, as well as a 40% stake in its Tubarao Martelo field to Malaysia's Petronas; OGX denies the report but investors are reacting positively. The deals would shore up finances at Eike Batista's troubled company ahead of next month's important auction of oil and natural gas concessions. Comment! [Energy, Global & FX]
Wednesday, April 3, 10:53 AM Rosneft (RNFTF.PK) and Exxon Mobil (XOM) agree to launch a joint bid for Lebanese offshore projects, the CEO of the Russian state-run oil giant says. A total of 52 companies from 25 countries have applied to participate in the tender, including Lukoil and a combination of Novatek and Gazprombank, as well as Chevron (CVX), Statoil (STO) and Total (TOT). Comment! [Energy, Global & FX]
Wednesday, April 3, 8:38 AM Brazil's OGX Petroleum (OGXPY.PK), controlled by billionaire Eike Batista, could raise ~$1B with the sale of stakes in some of its exploration blocks and oilfields, WSJ reports. Malaysia's Petronas is seen as the frontrunner for the stakes; OGX also has talked with Russia's Lukoil. The potential sale comes as Batista seeks funds for massive, capital-intensive infrastructure projects. Comment! [Energy, Global & FX]
Monday, April 1, 10:36 AM Hess (HES +1.9%) agrees to sell its Russian subsidary Samara-Nafta to Lukoil for total consideration of $2.05B; based on its 90% interest in the subsidiary, after-tax proceeds to HES are expected to total ~$1.8B. Samara-Nafta is currently producing 50K boe/day in the Volga-Urals region of Russia. So far in 2013, HES has announced or completed ~$3.4B in asset sales. 1 Comment [Energy, On the Move]
Wednesday, January 16, 9:48 AM Lukoil (LUKOY.PK) is still seeking a partner to replace Statoil (STO) in Iraq's giant West Qurna field, preferring a Chinese company to invest since it would mean a ready market for the oil. But new concerns arise about stability and the prospects for Iraq’s oil-output growth after the violent death of a tribal leader who played a prominent role in the campaign against al Qaeda. Comment! [Energy, Global & FX]
Thursday, December 27, 2012, 10:29 AM Lukoil (LUKOF.PK, LUKOY.PK) says it will cut its production in Iraq by 30% to 1.2M bbl/day instead of 1.8M after the Iraqi government decided to limit output in order to prop up prices. BP's recent request to reduce its contracted production from the giant Rumaila field to ~2M bbl/day from 2.85M cited the lack of infrastructure, export opportunities and an abundance of government bureaucracy. 1 Comment [Energy, Global & FX]
Monday, December 24, 2012, 11:36 AM Russia's Lukoil (LUKOF.PK, LUKOY.PK) decides against joining the development of Iraq's West Qurna-1 oilfield, citing high risks, paving the way for Chinese companies to enter the project. PetroChina (PTR) is believed to be the frontrunner to take over ExxonMobil's (XOM) 60% stake in the field. Lukoil still owns a 75% stake in the West Qurna-2 field. 1 Comment [Energy, Global & FX]
Wednesday, November 28, 2012, 5:45 AM Lukoil (LUKFY.OB) will decide by the end of the year whether to acquire ExxonMobil's (XOM) stake in the massive West Qurna-1 oilfield in Iraq as it seeks to make up for falling output at depleted Russian reserves. Lukoil already drills in the West Qurna-2 deposit and controls the biggest reserves in the country among the foreign firms that operate there. Exxon has reportedly set a bid deadline of December 5. Comment! [Energy]
Friday, November 16, 2012, 4:38 PM Iraq would favor bids by Russia's Lukoil (LUKFY.PK) and China's CNPC if they decide to buy Exxon Mobil's (XOM) stake in the West Qurna-1 oilfield, a senior oil ministry official tells Reuters. A sale of the stake to either company would greatly strengthen the position of Russia or China in exploiting Iraq's oil reserves, the world's fourth biggest. Comment! [Energy, Global & FX]
Friday, November 9, 2012, 8:21 AM Lukoil says it will consider an offer from Exxon Mobil (XOM) to take over the West Qurna-1 oilfield in Iraq. Lukoil already is developing West Qurna-2 and is looking to offset declining production at its Russian fields. The government expects XOM to complete the sale of its shares in West Qurna-1 by year-end, and the company has told Iraq it is already in talks with other oil majors. Comment! [Energy, M&A, Global & FX]
Friday, November 9, 2012, 6:16 AM Exxon Mobil (XOM) is in talks with BP (BP), Shell (RDS.A), Lukoil, CNPC and Eni (E) about selling its stake in the West Qurna-1 oilfield in southern Iraq, a senior government spokesman says. Exxon expects to complete a sale of the "super-giant oilfield" by the end of December. It's getting out so it can concentrate on exploration projects in Kurdistan, which is in a dispute with Baghdad over the region's energy resources. Comment! [Energy, M&A, Top Stories]
Wednesday, August 22, 2012, 8:31 AM ConocoPhillips (COP) says it will sell its indirect 30% interest in the NaryanMarNefteGaz Russian JV and certain related assets to Lukoil (LUKOF.PK, LUKOY.PK). Financial terms are not disclosed, but COP expects to recognize an after-tax gain of ~$400M for the sale. COP +0.4% premarket. Comment! [Energy]
Tuesday, August 14, 2012, 2:43 PM Ukraine approves a Black Sea oil and gas exploration bid led by ExxonMobil (XOM +0.1%) and Royal Dutch Shell (RDS.A +0.4%) in a "paradigm shift" to reduce reliance on Russian fuel imports, FT reports. The group, which also includes Ukraine's Nadra and Romania's OMV Petrom, is selected in a tender process over Russia's Lukoil (LUKOY.PK -0.2%). Comment! [Energy]
Monday, March 19, 2012, 7:46 PM Lukoil's (LUKOY.PK) CEO Vagit Alekperov hints that Russia is moving toward welcoming anyone with the capital and technological expertise needed to drill in the Arctic waters north of Siberia. The region is one of the most remote and inhospitable regions on the planet - so remote that Russia hadn’t fully mapped where the coast ended and the polar ice began until the mid-twentieth century. Comment! [Global & FX, Energy]
Friday, March 2, 2012, 1:14 PM Lukoil (LUKOY.PK) walks away from a plan to make a $1.8B shale acquisition in the U.S. as sliding natural gas prices destroyed the economics of a deal. "We examined this project in detail and had to suspend its development on valuation," says CEO Leonid Fedun. Comment! [Global & FX, Energy, M&A]