Lukoil revamps petrochemical sector structure, strategy

Russian company Lukoil's Pres. Vagit Alekperov said Tuesday that the company would restructure its petrochemical unit, ZAO Lukoil-Neftechim, and raise its interest in the unit to 100%.

Oct 4th, 2000


Russian company Lukoil's Pres. Vagit Alekperov said Tuesday that the company would restructure its petrochemical unit, ZAO Lukoil-Neftechim, and raise its interest in the unit to 100%.

Lukoil's directors in September 1999 approved guidelines for developing its petrochemical business through 2005, when the total petrochemical throughput is expected to reach 5 million tons, said the company. Those plans include increasing its investment in petrochemical production and acquiring new assets.

Lukoil-Neftochim's current assets include OOO Stavrolen (Budennovsk), OOO Saratovnefteorgsintez (Sartatov), OAO Stavroplast (Mineralnye Vody), and more than 51% in Vars terminal (Ventspils).

Lukoil said that in 1999, Lukoil-Neftochim produced 1.423 million tons of products worth 8.6 billion rubles.

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