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Monday, 10 June 2019 15:30

JV of Sberbank and SOCAR acquires 80% of Antipinsky Oil Refinery

JV of Sberbank and SOCAR acquires 80% of Antipinsky Oil Refinery

SOCAR Energoresurs, the joint venture of Sberbank and State Oil Company of Azerbaijan (SOCAR) acquired 80% of shares of Antipinsky Oil Refinery which is on verge of bankruptcy”, Sberbank reported. The JV gained control over the refinery and fields in Orenburg region, which form the assets of Antipinsky Oil Refinery.

60% of Socar Energoresurs belongs to Socar Russia Investment, while 40% belongs to Sberbank owned SBK Komplekt. 

The JV will buy oil from large oil companies, in particular, from LUKoil and Surgutneftgaz, and supply to Antipinsky Oil Refinery. SOCAR plans to launch supplies in July.

 Person in charge of the newsline: Fidan Isayeva
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