LUKoil to participate in privatization in Greece

LUKoil is still going to participate in the privatization of the Greek oil company Hellenic Petroleum after some disagreement is settled, LUKoil Vice President Leonid Fedun announced in Moscow today. He explained that there was some misunderstanding with their Greek colleagues in regard to the date of privatization, which had been significantly postponed by the Greek side. LUKoil officials hope that all disagreement will be resolved and the date of privatization will be set in the near future.

In his turn, LUKoil President Vaghit Alekperov noted at a press conference on January 17 that LUKoil was planning to acquire a 23.17-percent stake in Hellenic Petroleum over the following two months. According to information from the Greek mass media, LUKoil offered to pay EUR454m (about $473m) for the stake.

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