Sun, Nov 08 2009

Lukoil agrees to buy 45% stake in Dutch refinery TRN

Mon, Jun 22 2009 12:15 CET byNick Iliev 1343 Views
Lukoil agrees to buy 45% stake in Dutch refinery TRN

Lukoil CEO Vagit Alekperov

Russian Lukoil Holdings has purchased a major stake in a Dutch refinery Total Raffinaderij Nederland, the latest in a series of strategic deals signalling the Russian energy companies' ambition to strengthen their positions in the European market.

The deal is worth $725 million and it is expected to be finalised by the end of the year. France's Total will keep the remaining  55 per cent stake in the refinery.

Lukoil chief executive Vagit Alekperov said the acquisition "organically fits in our company's strategy aimed at increasing oil refining capacities located in the immediate proximity to the markets where products with higher added value are sold," as quoted by the Wall Street Journal.

This is the second attempt for Lukoil to acquire the refinery in the Netherlands. Last year, the Russian company tried purchasing Kuwait Petroleum for the factory Europoort in Rotterdam, but in the last moment the Kuwaiti side pulled out of the deal.

Lukoil owns Bulgaria's largest refinery Neftochim in Bourgas and the country's largest, by revenue, fuel stations network.

Write comment

Name:Comment:

Generate new code
Send your comment
Lukoil slashes price of petrol by 5.5 per cent

Lukoil Bulgaria has decreased the price of fuel in relation to the current dynamic of the local market for petrol goods, as declared in an official statement from the company, quoted by Investor. The move comes against the backdrop of Russia's Gazprom restricting the flow of gas to Europe due to the ongoing row with Ukraine, with shortages in some cases being as much as a third, and with gas supplies dwindling for the Bulgarian market as well.

Lukoil mulls delay to waste treatment plant at Bourgas oil refinery

Russian oil heavyweight Lukoil may trim planned investments for 2009 and postpone by a year or two the construction of a waste treatment plant at its Bourgas refinery on the Black Sea if oil prices dropped to $45 a barrel, the company's president Vagit Alekperov said, as quoted by Interfax news agency. Lukoil Neftochim, the refining arm of the Russian company's subsidiary in Bulgaria, declined to comment on the statement.

LUKoil, Petrol seal 463.5M deal

Russian oil processing company LUKoil and Bulgaria's fuel retailer Petrol shook hands on April 24 over a deal that reconciled a long-running dispute between the two and looks set to trigger a reshuffle in the fuel retailer market. Under the agreement, cleared on April 24 by Bulgaria's anti-trust authority CPC, the two companies agreed to the withdrawal of all lawsuits against each other and to the sale of 75 gas stations and a fuel depot in Sofia's Iliantsi neighbourhood of Petrol to LUKoil.

More in this category

Bulgaria unemployment rate reaches 8.23% in October

Seven thousand people lost their jobs in October, labour minister says

EasyJet offers 30% promotional discount on all destinations

Once the promotional tickets are purchased during the discount window, they will be valid for the period January 4–March 30 2010

Long awaited repairs

Flannagan’s will be replaced by a French brasserie as part of a 10 million euro Radisson renovation

Mobile operator Globul reports 8.1% revenue drop in Q3

Globul has accumulated a profit of 139.1 million euro for the period January – September 2009, or a 0.3 per cent drop as opposed on last year’s results

Plotting the course

After 100 days in office, Finance Minister Simeon Dyankov pinpoints 10 key issues for Cabinet in ‘the next 100 days’

© 2000-2009, Sofia Echo Media Ltd.

Web Design by RIZN

Sofia Echo Media is part of the Economedia Group.
The news and information content on this website is provided by our editorial team and is copyrighted. Any unauthorised reproduction or use of it is strictly forbidden. Reproduction of this website's content is permitted only with prior written permission from the Editor-in-Chief, should be propertly acredited and provide an active link back to our site. Comments posted by the website's visitors are independent of the editorial materials and do not represent the views of sofiaecho.com. Sofia Echo Media cannot be held responsible for the statements contained in visitor comments. The percentаge change in the shares' prices are based on the price of the last transaction of the current session compared to the price of the last transaction of the previous session. Bulgarian Stock Exchange data is not real-time, but updated every 15 minutes, and should not be used as a basis for decisions about buying or selling stock options.