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German Gref: “Antipinsky Oil Refinery Plant will restore operations this month”

07 June 2019 15:16 (UTC +04:00)

Antipinsky oil refinery plant which is under control of SOCAR undergoes insolvency procedure and will restore normal operations already this month, said German Gref, Chairman of Sberbank, APA-Economics reports.

“Oil refinery is in an insolvency procedure, however, we have managed to involve large industrial partner that have big experience. Therefore, we plan to restore refinery’s operations and will try to make works of refinery continue in June”, G. Gref added.

Note that SOCAR Energoresurs, a joint venture between Russia’s largest lender Sberbank and SOCAR, has acquired an 80% stake in Russia’s Antipinsky oil refinery, thus JV took control over the refinery and oilfields in Russia’s Orenburg region.