http://www.todayszaman.com/tz-web/detaylar.do?load=detay&link=104687

Russian Lukoil freezes project in Turkey
Russian oil giant Lukoil has frozen their plans to build a refinery in
Turkey because of the company’s financial constraints.
Top Lukoil manager Vahit Alekperov of Azerbaijan said they preferred
plan to enlarge their refinery facilities at Burgas Port in Bulgaria
would subsequently  freeze their projects in Turkey. “The scale of our
financial planning is being downsized, and all our future investments
will be concentrated at the refinery in Burgas,” Alekperov said. He
emphasized they would increase the processing capacity of the refinery
to 10 million tons per year from 7.5 million tons but did not specify
the duration of the enlargement process. Alekperov added that they did
not have any plans to bid at the auction in which the property holdings
of bankrupted Yukos would be sold.

07.03.2007
Today’s Zaman  İstanbul

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