Romania's Oil Terminal Signs Services Deal With Petrotel Lukoil Refinery

Romanian cargo handling companyOil Terminal[BSE:OIL] said on Wednesday it has signed a deal estimated at 33.6million lei ($8.6 million/7.5 million euro) with local refinery Petrotel Lukoil forservices to be provided by the terminal in 2015.

Under thecontract, Oil Terminal,located inthe Black Sea port of Constanta,will handlethe oil imported by Petrotel Lukoil and products exported by the company, Oil Terminalsaid in a statement filed with the Bucharest Stock Exchange.

Petrotel Lukoil is located inthe southern city of Ploiesti.Therefinery,owned by Russia's Lukoil,is currently under investigation by the Romanian authorities for allegedmoney launderingand taxevasion. In October, it halted production for several days afterlocal prosecutorsseizedoil and oil products worth some 1.0 billion lei.

Oil Terminal's shares were changing handsup 3.49% at 0.0920lei on the Bucharest Stock Exchange by 1300 CET.

Source: SeeNews