05 Oct, 23

Lukoil Pivots To Turkey With $1.5B Refinery Deal Amid Sanctions

UncategorizedNo Comments

Russian Lukoil will lend $1.5 billion to Azerbaijan’s state-run Socar to enable its Turkish STAR refinery to receive Russian crude oil imports again, after sanctions-related financial restrictions forced a cut-off this summer, Reuters reported exclusively on Thursday.  As European refiners halted purchases of Russian oil under the sanctions regime, Lukoil, a private company, is seeking refining customers situated near Russian ports to recapture market share.  Socar’s STAR refinery in Turkey has a 200,000 barrel-per-day refining…

Leave a Reply

Your email address will not be published. Required fields are marked *

This field is required.

This field is required.