Press Release: Mergers: Commission clears proposed acquisition of six ConocoPhillips subsidiaries by Lukoil

The European Commission has cleared under the EU Merger Regulation the proposed acquisition of six subsidiaries of ConocoPhillips, an integrated energy company based in the US, by the Russian oil and gas company Lukoil. The Commission’s investigation has found that the proposed transaction would not impede effective competition in the European Economic Area (EEA) or any substantial part of it, as the parties activities only overlap to a limited extent.