Lukoil gets permission to acquire Total refinery stake
The European Commission has given Russian major Lukoil the go-ahead to acquire a 45% stake in a Dutch refinery from French major Total.
Lukoil has been quoted saying the deal for a 45% stake in Total Raffinaderij Nederland (TRN) will cost it some $725 million.
According to Dow Jones Newswires, US major Valero Energy Corp had earlier this year agreed to buy the same stake from US-based Dow Chemical Co. which co-owns TRN with Total.
Total however, is understood to have exercised its preemptive rights to purchase the stake and simultaneously agreed to sell it to Lukoil.
The 153,000 barrels per day Vlissingen facility is mainly run on Russian crude.
Lukoil has been quoted saying the deal for a 45% stake in Total Raffinaderij Nederland (TRN) will cost it some $725 million.
According to Dow Jones Newswires, US major Valero Energy Corp had earlier this year agreed to buy the same stake from US-based Dow Chemical Co. which co-owns TRN with Total.
Total however, is understood to have exercised its preemptive rights to purchase the stake and simultaneously agreed to sell it to Lukoil.
The 153,000 barrels per day Vlissingen facility is mainly run on Russian crude.