Lukoil in $4.25 Billion Joint Venture for 49% of Italian

Lukoil in $4.25 Billion Joint Venture for 49% of Italian Refinery, an
Industrial Info News Alert 
Researched by Industrial Info Resources (Sugar Land, Texas) -- Lukoil
(PINKSHEETS:LUKOY) (Moscow), one of Russia's largest independent oil
producers, has signed an agreement with ERG SpA Milano
(PINKSHEETS:ERGZF) (Genoa, Italy) to form a joint venture to operate
the ISAB refinery in Priolo, Sicily. Lukoil entered the agreement as
part of a strategy to increase its presence in Europe and boost its
downstream business with investments of up to $25 billion through
2017. The ISAB refinery is one of the largest refineries in the
region and is well situated to meet the growing middle distillate
demand for kerosene and diesel fuel in Europe. 
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Joe Govreau
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