keywords: lukoil phillips conoco bidding auction
text: Conoco Phillips buys 7.6 in Lukoil for \$2 bn Front-runner Conoco Phillips today won the auction for 7.6 per cent of Russian oil and gas group Lukoil, bidding some \$2 billion, in a deal that also takes the US group into a joint venture to exploit the Timan-Pechora area of Russia.