Security Service of the Ukraine initiates proceedings on illegal transfer of petrochemical complex Oriana to Lukoil
Edited by Rhod Mackenzie / 2015-02-18 04:42:50
Oil and Gas Refining Russia Ukraine Petrochemicals Russia Oil and Gas Ukraine Oil and Gas Lukoil Oil
Security Service of the Ukraine (SBU) has initiated a criminal investigation on transaction, in results of which Lukoil owned petrochemical complex Oriana, SBU reports.
"In 2000, despite the unprofitability of the petrochemical complex Oriana and lack of its own raw materials for processing, the Government decided to attract a private investor for recovery of the enterprise. To do this, an enterprise Lukor was created on basis of Oriana together with Lukoil-Neftekhim. The Russian company paid $100 million by its own securities for its participation in the business. It is found that the real value of the Russian company’s securities was only $27 million. Therefore, the state suffered damage in a large scale,"- the report of SBU says.
