RusEnergy

RBC, 23.03.2005, Moscow 15:56:26.LUKoil has purchased shares of Finnish companies Oy Teboil Ab and Suomen Petrooli Oy for USD160m, LUKoil's press service has reported. LUKoil-Finland, belonging to LUKoil Group, has concluded purchase and sales agreements with Oy Teboil Ab and Suomen Petrooli Oy, and thereby obtained the right to sole ownership of the companies. The deal's main achievement is LUKoil's entry into the Finnish oil-product market. LUKoil proposes to gain extra profit from supplies of EN-590, ecofriendly fuel oil produced at the Perm Refinery, to Finland. Oy Teboil Ab and Suomen Petrooli Oy facilities will also permit LUKoil to raise residual oil and gas oil exports from the company's refineries located in Russia. The European Commission ratified the deal, for it concluded that the acquisition by the Russian company would not influence the competition in the European economic area considerably. Oy Teboil Ab and Suomen Petrooli Oy's principal activities lie in the management of a network of service stations.