Rosneft, Conoco Put Polar Lights JV on the Block

摘要

State-controlled Rosneft and ConocoPhillips are reportedly going to sell their Polar Lights joint venture, marking the final exit of the US firm from Russia. According to Russian business daily Kommersant, Rosneft and Conoco have put up for sale their 50% stakes in Polar Lights because of the venture’s low profitability. The report says Rosneft is seeking $120 million-$150 million for its stake, which experts say is on the high side.