RusEnergy

21 May 2007 - Upstream OnLine - The European Bank for Reconstruction & Development (EBRD) has granted Russian oil giant Lukoil a $300 million loan to support the company's environmental and safety work. The loan will help Lukoil make investments in pipeline replacement, reduce gas flaring, modernise its facilities and improve worker safety, the EBRD said in a statement. The EBRD will be the lender of record on the full loan, half of which has been underwritten by Calyon and will be syndicated to a consortium of banks.