Russia’s Lukoil sells Karpatneftekhim in Ukraine

According to Reuters, Russia’s Lukoil completed the sale of Karpatneftekhim plant in Ukraine. However, the amount of the deal and the name of the buyer are not yet known.

The company started to mull over selling the plant in 2014 as it was making losses due to the disputes between Lukoil and the Ukrainian government on the tax burden. The company had also halted production at the plant in early 2014 in the face of weak demand amidst the political crisis in the country.

Karpatneftekhim was able to produce around 300,000 tons/year of PVC, 100,000 tons/year of PE, 250,000 tons/year of ethylene, 200,000 tons/year of caustic soda and 180,000 tons/year of chlorine.