Privat to Exchange Shares in Its Refineries for Oil Supplies

Privat Group is in talk with the State Oil Company of Azerbaijan (SOCAR) to sell shares in Naftokhimik Prykarpattya (NAFP: N/R) and Halychyna Refinery (HANZ: N/R) in return of oil supplies to these companies, Ukrainian News said yesterday. Earlier Ukraine’s Ministry of Energy said that each of Naftokhimik Prykarpattya and Halychyna Refinery can refine 1.5 mln mt of Azerbaijani oil. Yesterday Oleh Dubina, Naftogaz of Ukraine Chairman said that Odesa-Brody Pipeline will change the direction of oil flow to ship light oil from Odesa by 2H08. According to him, it is needed to replace 485 ths mt of technological oil to redirect oil flow.