Russian Lukoil Provides $1.5 Billion Loan to Azerbaijani SOCAR
Russian Lukoil has provided a $1.5 billion loan to Azerbaijani SOCAR. This was reported by the Reuters agency. The aim is to supply oil from Russia to the STAR oil refinery owned by SOCAR in Turkey.
Lukoil will start supplying Urals brand oil to the STAR refinery in October, which will amount to around 100,000 barrels per day, constituting half of the refinery's capacity.
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