EU ROUND UP
April 1st, 2003
BY KEITH NUTHALLTHE EUROPEAN Union's funding institutions are increasingly financially assisting the former USSR's oil industry. The European Bank for Reconstruction and Development (EBRD) is lending US$80 million loan to a key subsidiary of Russia's Lukoil group - CSJC Lukoil-Perm - to help it cut gas flaring to 20 per cent by 2005, compared with 52 per cent at typical Russian oilfields. Instead the gas will be converted into energy in the western Urals. The EBRD is also planning to lend Euro 50 million to Russia's PetroAlliance, to expand services through ...
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