Lukoil's Fedun Says Market Conditions Unfavorable for Refinery Purchases

OAO Lukoil, Russia’s largest non- government crude producer, sees the market as unfavorable now for buying refining assets, Vice President Leonid Fedun said.

While as many as 14 European plants may be shut or put up for sale, Lukoil isn’t planning “downstream” acquisitions and isn’t looking at ConocoPhillips’ refinery in Germany, Fedun told reporters today in Moscow. “We have bought everything we wanted and at a good price.”

To contact the reporter on this story: Anna Shiryaevskaya in Moscow at ashiryaevska@bloomberg.net

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