Get the latest updates as we post them — right on your browser

. Last Updated: 07/27/2016

LUKoil Eyes Onako

The nation’s No. 1 oil firm, LUKoil, has applied to the Anti-Monopoly Ministry for permission to bid for an 85 percent stake in Onako, the nation’s 12th largest oil producer, Prime-Tass quoted LUKoil president Vagit Alekperov as saying Tuesday.

He said LUKoil had not formed an alliance of companies for the bid, but will consider making a joint bid with foreign or local companies.

The State Property Fund, the official seller of the state’s stake in Onako, is accepting bids until Sept. 14 at a starting price of $425.25 million. Yukos, Sibneft and Stroitransgaz have made a joint bid, as has Tyumen Oil Co.

Also Tuesday, Kaliningrad, LUKoil’s third icebreaker tanker — built by St. Petersburg’s Admiralty Shipyards — was launched, Prime-Tass reported.