LUKOIL says Conoco has no plans to sell stake-Ifax

MOSCOW, Oct 19 (Reuters) - ConocoPhillips (COP.N), has no plans to sell its stake in partner LUKOIL (LKOH.MM) so far, the head of the Russian oil major was quoted as saying on Monday.

"I met ConocoPhillips' President last week and we have discussed the issue... Neither the board of directors (of Conoco) nor the management have so far considered selling the stake," Interfax agency quoted Vagit Alekperov, the head and co-owner of Russia's No. 2 oil producer, as saying.

Conoco said earlier in October it will cut its 2010 capital budget by 12 percent and sell off $10 billion in assets in the next few years to improve its financial position. [ID:nN07511529]

Conoco's statement has ignited speculation regarding the assets it could sell and analysts said it could halve its 20 percent stake in LUKOIL. [ID:nL8506826] (Reporting by Dmitry Sergeyev; Editing by Hans Peters)