Lukoil, Russia’s second-biggest oil producer, has said it wants to sell its stake in a Russian consortium developing a large oil project in Venezuela because it is not a high priority.
“If we see an intention to sell, of course, we will hold talks and work on the possibility of increasing Rosneft’s stake,” Sechin said.
Lukoil is part of the Junin-6 consortium developing heavy oil in the Orinoco basin. The group is led by state firm Rosneft and also includes Gazprom Neft (SIBN.MM).
Reporting by Katya Golubkova; writing by Vladimir Soldatkin; editing by Alessandra Prentice