LUKOIL Company completed the sale of petrochemical plant Karpatneftekhim in Ivano-Frankivsk region of Ukraine, which was the last asset of the Russian company in the country, the company said.

Reduction of the company’s presence in Ukraine began in 2013, when the company sold the Odessa refinery. In August 2014 LUKOIL sold to the Austrian investment company AMIC 100% “Lukoil Ukraine”, which owned 240 gas stations and six tank farms.

By 2015, LUKOIL has invested in its reconstruction USD543,4 million. In September 2016 the president of Lukoil Vagit Alekperov estimated the cost of the plant in at USD100-300 million.

Earlier it was reported that the Antimonopoly Committee of Ukraine (AMCU) allowed Techinservice Limited (United Kingdom) to buy more than 25% of the Dutch Lukoil Chemical, unspecified natural persons, citizens of Ukraine indirectly through Xedrian Holding Ltd (Cyprus) – more than 50% Lukoil Chemical (according to the State Register of Ukraine, the ultimate beneficial Lukoil Chemical absent) owner.

Indirectly the owner of more than 50% of LLC “Karpatneftekhim” through Xedrian Holding Ltd (Cyprus) could become Ilham Mammadov, former head of foreign investments “LUKOIL-Ukraine” reported by the AMC. Mammadov was appointed head of FDI “Lukoil-Ukraine” November 29, 2014, when the NC has announced the sale of gas stations network in Ukraine. Prior to that, Mammadov worked in other positions in the structures of “LUKOIL”.

Karpatneftekhim (Kalush, Ivano-Frankivsk region) – was a subsidiary of the company “Lukoil-Petrochemicals” and is the largest producer of polymers in Ukraine. Company produces polyolefins (ethylene and propylene), polyethylene, chlorine, caustic soda and polyvinyl chloride. Capacities of the enterprise allow to produce annually 300 thousand. tons of ethylene, 100 thousand. tons of HDPE, 180 thous. tons of caustic soda and 300 thousand. tons of PVC.

LUKOIL – one of the leading vertically integrated oil company in Russia. The main activities of the company include operations for exploration and production of oil and gas, production and sale of petroleum products. Lukoil is the second largest private oil Company worldwide by proven hydrocarbon reserves. In Lukoil structure includes one of the largest petrochemical enterprises in Russia – Stavrolen