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Lukoil sells its stake in Venezuela project to Rosneft

Reuters - UK Focus

MOSCOW, Dec 23 (Reuters) - Russia's largest independent oil producer Lukoil said on Monday it has sold its 20-percent state in a consortium developing a large oil project in Venezuela to its Russian peer Rosneft.

Lukoil, Russia's No.2 oil producer, last year said it wanted to sell its stake in the Russian Junin-6 consortium developing heavy oil in the Orinoco basin, in order to focus on other projects.

The group is led by Rosneft and also includes Gazprom Neft .

(Reporting by Lidia Kelly and Olesya Astakhova, editing by William Hardy)