LUKOIL repurchases its shares from ConocoPhillips

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LUKOIL repurchases its shares from ConocoPhillips

The transaction completion is scheduled for August 16, 2010. The stock purchuse agreement also envisages an option to purchase up to 98,728,900 OAO LUKOIL ordinary shares (11.61%) in the form of depositary receipts prior to September 26, 2010.

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