Lukoil Plans to Invest $100 Million in Turkey

Russian oil company Lukoil plans to invest $100 million in Turkey in the near future, the company’s top executive said on Tuesday, Anadolu Ajansi reports. 

Lukoil’s President Vagit Alekperov, who chaired the company’s executive board meeting in Istanbul, said that the investment would be made to expand oil terminals and the oil distribution network, and modernize plants in Turkey.

Note that Turkey’s Energy Minister Taner Yildiz was also in attendance at the board meeting. Alekperov said that Lukoil was not only doing retail business in Turkey, but also carrying out joint projects with Turkish companies.