Conoco exits Russia after 25 years - FT.com:
"ConocoPhillips, one of the pioneers of foreign investment in the Russian oil and gas industry, has completed a full retreat from the country by selling out of its Polar Lights joint venture with Rosneft.
A spokesman for the US oil and gas producer confirmed it had sold its 50 per cent stake in the venture, which is focused on the far north-west of Russia. Rosneft, the Russian state oil company, also sold its stake in the asset last week, in a deal that valued the business at about $150m-$200m, according to one person familiar with the matter."
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