16 Jul 2010 15:54

Lukoil increasing credit to financial subsidiary to $8 bln

MOSCOW. July 16 (Interfax) - The board of directors at Russian oil major Lukoil have approved a deal between the company and its financial subsidiary Lukinter Finance B.V. that involves increasing a loan to Lukinter to $8 billion, Lukoil said.

The parties clinched an additional agreement to the loan deal in April, which envisioned an increase to $4 billion. The loan is to be repaid before December 30, 2001.