LUKoil could buy Regal Petroleum’s gas assets in Ukraine – paper
Russia’s largest independent crude producer LUKoil is in talks with UK-based Regal Petroleum on buying its gas deposits in Ukraine, a British paper said on Wednesday.
Regal Petroleum, licensed to develop Ukraine’s Mekhediviska-Golotvschinska and Svyrydivske fields with total reserves of over 25 billion cubic meter of gas and almost 6 million cubic meter of gas condensate, said it had received offers from several companies but talks are at the initial stage, The Guardian newspaper wrote.
LUKoil’s name was not mentioned by the UK firm, but sources say the Russian crude producer is prepared to pay $1 billion for the gas assets, the paper reported. Regal Petroleum conducted purchase talks with Shell five months ago, but no deal was reached due to changes in the management at the British company, the paper said. LUKoil has declined to comment on the reports. (rian.ru)
SUPPORT THE BUDAPEST BUSINESS JOURNAL
Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.