September 12, 2012:

The Lisichansk refinery, controlled by Anglo-Russian oil producer TNK-BP, has attracted interest from a number of buyers, one of the company's major shareholders, German Khan, told reporters on Wednesday. TNK-BP, half owned by BP, has long been struggling to improve margins at the 140,000 barrels per day refinery, asking the Ukrainian government to impose import tariffs or quotas on fuel to help boost its profitability. The company halted production at the plant in March. "We are in discussions to sell the Lisichansk refinery, there are some offers, we are in talks" Khan, who is also TNK-BP's executive director, told reporters. In July, administration of the Lugansk region where the refinery is located said Ukrainian magnate Dmytro Firtash was involved in talks about the Lisichansk plant. TNK-BP is at the centre of controversy after BP said in June it would start the process of selling its 50 percent stake in the company, which it formed nearly a decade ago with a group of Russian tycoons called AAR. In July, BP entered a 90-day period to talk to potential buyers including AAR and Russia's top crude producer Rosneft . Khan declined to comment on the potential TNK-BP stake sale.

By Reuters