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Europe Daily Bulletin No. 8798

2 October 2004
Contents Publication in full By article 30 / 42
ECONOMIC INTERPENETRATION / (eu) oil

US giant CONOCOPHILLIPS has bought a 7.6% stake in the second largest oil producer in Russia LOUKOIL, for USD 1.99 bn. By the end of the year it hopes to increase its stake to 10% and then later to 20%. LOUKOIL reserves are estimated to stand at 19.8 bn barrels, 2.5 times as big as the current CONOCOPHILLIPS reserves.

Contents

A LOOK BEHIND THE NEWS
THE DAY IN POLITICS
GENERAL NEWS
TIMETABLE
ECONOMIC INTERPENETRATION