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Lukoil gets control of the oil refining complex in Sicily
4.04.2011 12:39
Lukoil gets control of the oil refining complex in Sicily

Russian largest oil producer Lukoil has bought additional 11% stake in a refining joint venture in Sicily.
      According to the official data, now Lukoil owns 60% of the company. The deal is estimated at 205 million dollars (excluding the value of inventories of crude oil and petroleum products).
      Earlier in 2008, Lukoil organized a joint venture with Italian ERG to manage ISAB. Lukoil had 49% stake, comany's investment in the joint venture were about 1,3 billions of euros.
      Buying ISAB was Lukoil's firs purchase in Western Europe. In 2009 the company has also bought a part of TRN refinery in the Netherlands.
Author: Ksenia Dzhalagonia


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