ANKARA, August 8 (RIA Novosti) - LUKoil [RTS:LKOH] will build an oil refining complex in Turkey if the country's authorities give their approval to its plans, the head of Russia's largest oil producer said Tuesday.
Vagit Alekperov discussed the possibility of building the refinery in Turkey's Black Sea province of Zonguldak with the head of the country's Energy Market Regulatory Authority, Yusuf Gunay. He said as much as $3 billion could be invested in the construction of the facility, with planned refining capacity of 60-70 million bbl.
Alekperov said LUKoil's arrival would boost competition on the Turkish market. "I think competition will mount with the entry to the market of a company that [both] produces oil and runs a distribution network."
He said LUKoil would open its first filling stations in Turkey in September.
In Russia, the company owns four refineries and about 1,500 filling stations.
