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. Last Updated: 07/27/2016

State Won’t Buy Into LUKoil

The Energy Ministry said Friday that it saw no reason for the government to buy shares in private oil firm LUKoil if U.S. major ConocoPhillips decides to reduce its 20 percent stake.

“I think there is no reason for Russia [to buy the shares] … I am not aware of any negotiations,” Deputy Energy Minister Stanislav Svetlitsky told reporters.