text: Industry watchers view ConocoPhillips as favourite in Lukoil &lt;b&gt;...&lt;/b&gt; When the Russian government #39;s 7.6 per cent stake in Lukoil - the world #39;s No. 2 oil company by reserves - is auctioned Wednesday in the country #39;s biggest privatization, industry watchers aren #39;t expecting any surprises.