Reuters reports that Hess Corp, which has been besieged by
activist investors pushing for change at the oil and gas company, said it would
sell its Russian unit to Lukoil for $2.05 billion as it works to reshape its
sprawling energy business. Lukoil,
Russia's second-largest crude oil producer, is buying the unit - called
Samara-Nafta - as part of a long-term strategy to stabilize its falling oil
output.
Hess owns 90 percent of the unit and expects its after tax
proceeds will be about $1.8 billion. Samara-Nafta is currently producing 50,000
barrels of oil equivalent per day in the Volga-Urals region of Russia, the
company said….
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