Lukoil Mulls Refinery Project

Russia's second-biggest oil producer, Lukoil, is in talks with Iran's oil officials to build an oil refinery in the country, head of the Syndicate of Gas Station Owners said. "The Russian giant also wants to establish gas stations and fuel storage facilities in Iran," Bijan Haj-Mohammad Reza said, IRNA reported. According the official, Lukoil intends to sell the output of its refinery, including gasoline, in the local market. The commercialization of gas stations made headlines last year after reports circulated on the entry of international contractors in Iran's energy supply market. According to reports, which were strongly denied by government officials, Shell and Total were given the green light to establish 200 gas stations in Iran. Lukoil has expressed strong interest in Iran’s oil projects after Tehran and the world powers reached a landmark agreement in July last year on limiting its nuclear program in exchange for the lifting of financial and trade restrictions.