Lukoil states record business in Romania of EUR 2.8 billion
2012-07-04 11:41:54
Russian oil company Lukoil stated a cumulated turnover of EUR 2.8 billion in 2011, following the sales of the 300 gas stations countywide, plus the operations of Petrotel-Lukoil, the company controlling the refinery in Ploiesti. The turnover acheived in 2011 is 18.7 higher compared with last year, according to financial data. In late last year, Romanian Government has approved two agreements for oil exploration concession, development and exploitation in the Romanian perimeters of the Black Sea, each of 1,000 sqkm, involving the National Agency for Mineral Resources (NAMR) and association of companies Lukoil Overseas-Vanco International. The value of investments in the area will rise to USD 75 million in the first three years. Depending on the results achieved, the companies will continue investing between USD 80 million and USD 160 million in the next two years.