Russian Lukoil will lend $1.5 billion to Azerbaijan’s state-run Socar to enable its Turkish STAR refinery to receive Russian crude oil imports again, after sanctions-related financial restrictions forced a cut-off this summer, Reuters reported exclusively on Thursday. As European refiners halted purchases of Russian oil under the sanctions regime, Lukoil, a private company, is seeking refining customers situated near Russian ports to recapture market share.
Socar’s STAR refinery in Turkey has a 200,000 barrel-per-day refining…Lukoil Pivots To Turkey With $1.5B Refinery Deal Amid Sanctions
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