By JAMES MARSON
MOSCOW -- Russia's OAO Lukoil has signed a deal to sell its
refinery in Ukraine's Black Sea port
of Odessa to Vetek Group, Lukoil said in a statement
The refinery, with a capacity of 3.9
million tpy, has been idle since the end of 2010. The decision
to sell is part of a plan by Lukoil --Russia's No. 2 crude oil
producer -- to restructure its international refining assets, the company
The deal is expected to be closed before June 1, after both
sides fulfill a number of conditions, Lukoil said, without
Lukoil said Vetek will acquire 99.6% of the refinery's stock, but didn't
disclose any financial terms.
Vetek is a Ukrainian gas trader owned by Ukrainian
businessman Serhiy Kurchenko, Ukrainian media has reported,
citing company statements.
Dow Jones Newswires