03 Mar Russian Lukoil lends Socar $1.5bn to supply Turkey’s STAR refinery – sources

Posted at 20:23h in Swiss News by

Russian Lukoil lends Socar $1.5bn to supply Turkey’s STAR refinery – sources

Published  5.10.2023 Online version (summary)
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Private Russian oil producer Lukoil will lend 1.5 billion dollars to state-owned Azerbaijani oil company Socar. This is part of a broader deal that will allow Socar’s 200,000-barrel-per-day Turkish STAR refinery to resume processing Russian crude, three industry sources familiar with the deal said on Thursday.

The deal gives Lukoil another customer in close proximity to Russian ports after most European refiners stopped importing Russian crude to comply with European Union sanctions imposed after Moscow’s so-called “special military operation” in Ukraine began in 2022.

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