VETEK closes deal with LUKOIL on purchase of Odesa oil refinery

VETEK and OAO LUKOIL (the Russian Federation) on July 5 closed a deal on the sale and purchase of PJSC Odesa oil refinery, the press service of VETEK has said.

“As a result of this transaction, VETEK acquired more than 99% of shares in the refinery,” reads a statement.

The press service of the company noted that the enterprise would become part of a closed loop built by VETEK from oil supplies and fuel production to its sales to end consumers.

According to VETEK Executive Director Yevhen Kalinin, Odesa oil refinery is in excellent condition and has a good location.

“We are ready to work with large oil traders, and now our very productive talks with partners are at the final stage,” reads the report.

The company said the plant would take its rightful place in the VETEK system and would soon be launched.

Adapted from Ukrainian Energy