ConocoPhillips invested total $6 billion in Russia

Publish date: March 15, 2006

According to ConocoPhillips chief executive James Mulva, this US energy giant invested about $6 billion in Russia.

James Mulva told an international conference on energy security in Moscow that his company’s cooperation with Russia’s no. 1 crude producer LUKoil, in which it owns a 16% stake, aimed to achieve strategic goals and would continue. Mulva said oil prices would be more unstable without Russia’s contribution to the world oil market, RIA Novosti reported. He added that Russia is a reliable energy resource supplier.