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EXPLORATION

Russian oilers eye American riches

KEY Russian oil companies have refocused on strengthening their international positions through the acquisition of assets in outside Russia, primarily the Americas, even as US oiler ConocoPhillips is pulling out after 25 years.

Haydn Black

Prior to Christmas, ConocoPhillips confirmed last week that it sold its 50% stake in the four million barrel per day Polar Lights joint venture in northwestern Russia. It launched the project in 1992...

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