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News // Russia

EU Antitrust Regulators Trusts LUKOIL

22 February 2007 , 10:47685
EU antitrust regulators approved the plans of Russian oil giant Lukoil to buy the filling stations of US oil giant ConocoPhillips in seven European countries.

Under the deal, the Russian oil and gas group is buying 400 filling stations from ConocoPhillips in Belgium, the Czech Republic, Finland, Luxembourg, Poland, Hungary and Slovakia.

The two companies have been close partners since ConocoPhillips bought 7.59 percent of Lukoil in 2004. The US company has since increased its stake to 20 percent.

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