Lukoil Secures €420M For Bulgarian Refinery Upgrades

Law360, New York (December 3, 2013, 1:40 PM EST) -- A unit of Russian oil giant OAO Lukoil has landed €420 million ($570 million) in financing from several European banks to upgrade its oil refinery in Bourgas, Bulgaria, with the construction of a heavy-residue hydrocracking complex, it announced Monday.

Lukoil Neftochim Burgas secured the financing from BNP Paribas (Suisse) SA, ING Bank, Societe Generale and UniCredit, backed by Italian export credit agency SACE SpA, or Servizi Assicurativi del Commercio Estero SpA, to finance almost half of the contract to build a €950 million heavy-residue hydrocracking complex...
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