|11 / 2004|
AZMOL on the crossroads
On 17 November Ukraine's state property fund (FDM) approved privatisation terms for the 92.41% stake in Berdyansk Azmol lubricant facility on the Azov sea coast of Ukraine. The FDM changed the privatisation terms several times, effectively narrowing down the list of potential winners to single company — Russo-Ukrainian JV Ukrtatnafta operating Ukraine's largest 320,000 b/d Kremenchuk refinery. Still, the privatisation of Azmol has never lured much interest from potential bidders.
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