Lukoil to Take 45% Stake in Dutch Refinery

Russia’s OAO Lukoil said Friday it will pay $725 million for a stake in a Dutch refinery owned by France’s Total SA, blocking a bid for the holding from Valero Energy Corp.

The move is the latest in a series of deals signaling Russian energy companies’ push to strengthen their positions in the European market.

Lukoil, which is 20%-owned by U.S. oil major ConocoPhillips, said it plans to close the deal for a 45% stake in Total Raffinaderij Nederland by year end.
WSJ