Russian President Vladimir Putin authorized Lukoil to finalize a transaction involving the purchase of shares in EL5-Energo, a energy company controlled by UROC Limited. The authorization was issued through the official legal information portal, which records government-sanctioned corporate deals and ownership changes.
The published document specifies that Lukoil is permitted to complete the acquisition of 2,618,132,410 ordinary shares of EL5-Energo, which are owned by UROC Limited. This approval marks the transfer of a 7.4 percent stake held by UROC in EL5-Energo to Lukoil.
Following this move, EL5-Energo currently reports that Lukoil holds approximately 56.44 percent of the company’s shares. With the transaction’s completion, Lukoil’s stake could rise further to about 63.84 percent, strengthening the oil major’s controlling position in EL5-Energo.
Earlier, there were indications from Bulgaria about abandoning Russian oil at the Lukoil plant, reflecting regional considerations in Europe regarding energy sourcing and regulatory attitudes toward Russian energy assets.
Earlier reports from socialbites.ca addressed questions about whether Russia is leveraging a global oil shortage to its advantage, a topic that continues to be debated in energy policy circles and market commentary across North America and Europe. Attribution: energy-market analysis compiled from regional reporting and industry observations.