24 Mar 2010 16:15

Lukoil will stay out of sale of its shares from Conoco stake

LONDON. March 24 (Interfax) - Russian oil major Lukoil will not involve itself in the sale of its own shares from a stake held by ConocoPhillips, Lukoil President Leonid Fedun said at a presentation of the company's financial report to US GAAP for 2009.

"Any shareholder has the right to buy or sell shares. We cannot influence that in any way," Fedun said. "The company is not going to either discuss or support it, we will not be involved in the sale or purchase of the shares."

Lukoil is bound to act in the interests of its shareholders, regardless of the stake, he said.