LUKOY PJSC Lukoil (CE)

By Emmanuel Tumanjong

Special to Dow Jones Newswires

Lukoil PJSC (LKOH.MZ) could make a decision later this year on its involvement in works to repair and upgrade an oil refinery in Cameroon, the company's vice president for the Americas, West Africa, and Europe has said.

"Certain modifications need to be brought into the project and the government's support is also expected to enable us concretize our decision this year," said Ivan Romanovsky, who took part in a meeting with government officials.

Cameroon's state-run National Refining Co. has had to import refined fuel after its production unit burst into flames on May 31 last year, forcing its closure.

"We now have facts about the refinery and its problems. We're going to analyze them and come back later to talks about them and certainly put our propositions forward," Mr. Romanovsky said.

The production unit is currently undergoing a 300 billion CFA francs ($500 million) transformation program to enable it to refine Cameroon's heavy crude oil.

Write to Barcelona Editors at barcelonaeditors@dowjones.com

(END) Dow Jones Newswires

February 10, 2020 08:15 ET (13:15 GMT)

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