SOCAR Interested In Buying Russia's Antipinsky Refinery

Azerbaijan’s SOCAR is interested in buying Russia’s Antipinsky oil refinery, although specifics from the Russian side are not known yet, SOCAR’s deputy vice president told Reuters. Sberbank, Russia’s largest lender, is in talks with potential investors to sell the Siberian refinery after gaining the rights for the majority of the indebted business, Reuters reported. “We are interested in this purchase indeed, but proposals are not defined yet,” Vitaly Baylarbayov told Reuters on Thursday at the annual Caspian Oil and Gas conference in the Azeri capital, Baku. He said it was not clear whether the refinery alone, or with licences for nearby oilfields, were for sale. SOCAR owns refining capacity in Azerbaijan and Turkey. The refinery, which has a refining capacity of 9 million tonnes per year, said this month that it had filed for bankruptcy, weeks after a London court ordered its assets be frozen in response to a lawsuit from a trading house. Read more