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Conoco To Increase Stake In Russia's Biggest Oil Firm

Conoco bought a 10-percent stake in Lukoil in 2004, and it's satisfied by the acquisition

US oil major ConocoPhilips?s head James Mulva announced during his meeting with Russian President that the company intends to increase its share in Russian private oil giant LUKoil to 20 percent and launch a joint oil producing project in Russia?s north.

Conoco bought a 10-percent stake in Lukoil in 2004, and it?s satisfied by the acquisition, James Mulva said on the meeting.