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Monday, February 14, 2005

LUKOIL TO PURCHASE TWO FINNISH COMPANIES

MOSCOW, February 14 (RIA Novosti) - LUKoil notified the European Commission of its planned purchase of shares in the Finnish companies Oy Teboil Ab and Suomen Petrooli Oy, according to a press release Monday. "If the European Commission approves the transaction, LUKoil will gain undivided control of these companies," the statement notes. As a result of the deal, LUKoil will emerge on the Finnish market of the end-user of oil products - the company intends to make additional profit on the supplies to Finland of environmentally clean diesel fuel with low sulfur content, produced on the new hydro-cracking installation of the Perm refinery to a total of up to one million tons a year. Oy Deboil Ab and Suomen Petrooli Oy manage 289 filling stations and 132 D-points (separately standing ground capacities and diesel-fuel selling stations) and oil-product wholesales, as well as production and oil sales. "The dominating position of Oy Teboil Ab and Suomen Petrooli Oy on the Finnish furnace fuel market will also allow LUKoil to count on additional export of boiler oil and gas oil from the Russian oil refining companies," the press release notes.
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