Repsol shareholder Spanish builder, Sacyr Vallehermoso SA, is also reported to be considering other proposals after Russia's largest independent crude producer first signaled it was interested in acquiring the Repsol stake.
In late October Sacyr, whose share price has dropped by almost 70% this year following the credit crunch, received a proposal from China's CNPC to buy a 20% stake in Repsol.
Earlier it was reported that LUKoil had applied to several Spanish banks for a 5.2 billion euro ($6.5 billion) loan to buy the Repsol stake.
LUKoil is seeking to buy around 30% in Repsol YPF, Spain's largest private oil and gas company, in a deal worth some 5.09 billion euros ($6.36 billion), with 20% held by Sacyr and 9.9% by La Caixa and Caixa Catalunya.
Add to blog
You may place this material on your blog by copying the link.
Image Galleries: Removing Protesters’ Barricades in Kiev
Infographics: First Russian Smartphone
Russia has become very adept in playing the diplomatic game, in which victory depends on choosing the right associate or partner. But there are a growing number of claimants to this role in the new horizontal and interdependent world. Aside Syria and Iran, being still important, the new venues for the application of practical diplomacy may well be Ukraine, the East China Sea and Afghanistan.