13 September 2007 18:34 [Source: ICIS news]
PRAGUE (ICIS news)--Russia’s second largest oil company Lukoil said on Thursday it had set aside up to $9bn (€6.5bn) for buying into Central and Eastern Europe (CEE) oil, petrochemicals and downstream retailing businesses.
However, a company spokesman said Lukoil was encountering nationalism and protectionism that might force it to divert the acquisition capital to other regions.
He added that it was fair to speculate that Lukoil might move to pick up minority or majority holdings in companies including ?xml:namespace>
The spokesman said that Lukoil could boost profits by diverting oil from its upstream operations into acquired CEE units instead of selling it to CEE entities it had no stakes in.
Lukoil is 20% owned by ConocoPhillips of the
($1.00 = €0.72)
For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.
Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.
|ICIS news FREE TRIAL|
|Get access to breaking chemical news as it happens.|
|ICIS Global Petrochemical Index (IPEX)|
|ICIS Global Petrochemical Index (IPEX). Download the free tabular data and a chart of the historical index|
Asian Chemical Connections