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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

JOHANNESBURG, SOUTH AFRICA -- (MARKET WIRE) -- 06/25/08 -- 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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Industrial Info Resources (IIR) is a marketing information service specializing in industrial process, energy and financial related markets with products and services ranging from industry news, analytics, forecasting, plant and project databases, as well as multimedia services. For more information, send inquiries to refininggroup@industrialinfo.com or visit us online at www.industrialinfo.com.

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Contact: Joe Govreau 713-783-5147

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