Russian Oil Company on the Auction Block

On September 29th the Russian government will auction off its 7.59 percent stake in the Lukoil oil company with a starting price of $1.9 billion. If it gets that price, it would be the most expensive deal in the history of Russian privatization. The U.S. oil company ConocoPhillips is among the interested bidders. Russias privatization program has been a mixed bag, with some succesful initiatives, but too often plagued by corruption or other problems. The debate continues on how to get it right.