HIGH PROFITS FOR CONOCO READY TO SELL SHARE IN LUKOIL

Conoco has reported profits that are higher than expected for the second quarter. The company has announced the sale of its 40% share in Russian-owned Lukoil. The group, the third largest in the USA oil sector, intends to sell assets worth $10 billion also selling its 40% stake in Lukoil to Russian company for $3.44 billion. For the second quarter ConocoPhillips has reported adjusted profits for $2.5 billion ($1.67 per share) compared to the expected $1.56 per share.

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