SOCAR withdraws from management of Antipinsky Oil Refinery

16:18 - 23.04.2021


April 23, Fineko/abc.az. The Azerbaijani State Oil Company has given up its shares in the Antipinsky Oil Refinery in Russia.

ABC.AZ reports that the decision was announced by the main creditor of the plant – Sberbank (Savings Banks).

It is noted that SOCAR will not participate in the auction for the sale of the property of the Antipinsky Oil Refinery, "due to the fact that the deal is not part of the current development strategy of the company."

At that, it was noted that SOCAR is ready to assist in the operational management of the enterprise after the completion of the auction, provided that mutually beneficial commercial agreements are concluded, SOCAR's share in the plant is 9.6%. Although it is not clear who exactly bought the shares, it is likely that this is the head of the board of directors of Litasco, the Swiss trader of Lukoil, and the former vice-president of LUKOIL, Valery Subbotin.

 

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