ENERGY

Russia’s Lukoil Sells Most of Bond Issue: AO Lukoil, Russia’s biggest private company, sold $320 million of a $350-million convertible bond issue. Atlantic Richfield Co. of Los Angeles said it bought 241,000 bonds for $250 million, giving it 6.3% of the voting shares in Lukoil when the bonds convert into shares next April. AO Lukoil had sought a minimum $1,007 bid for each of the 350,000 in $1,000 face value zero-coupon bonds. It received an average of $1,037, an executive involved in the sale said. Each bond is convertible into 170 shares of Lukoil stock on April 5, 1996. With today’s selling price, the bonds will convert to shares at the average price of $6.10.