Archive for October 23rd, 2011


Odessa Oil Refinery For Sale

October 23, 2011

I am reliably informed by friends in Luk Oil that their Odessa refinery, which processes 3.6 million tonnes of crude a year,  is up for sale.

Will it sell?  I would imagine it will be snapped up rather quickly to be honest.

Why?  Because last week, without any pomp or ceremony in the public eye, RWE, MOL, Chernomoretzgas and Naftogaz completed a deal for Black Sea shelf oil and gas exploration.

One has to come to the conclusion the Mr Graffer at Luk Oil HQ in Moscow will have been receiving visits from the German, Hungarian and Ukrainian partners of this little quartet amongst others.

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