Lukoil Subsidiary Gets Stake In North Sea Shipping

Russia's LUKOIL-Arctic-Tanker, a LUKOIL shipping subsidiary, has acquired a controlling stake in North Sea Shipping in Archangelsk for an undisclosed price. The newly-acquired company, based in Russia's far north, is made up of 54 vessels in varying conditions with a total deadweight of 300,000 tons. "LUKOIL now has a fleet of 200 vessels capable of carrying (a total of) more than one million tonnes of cargo," the statement said.