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29

Frauds Use Honour of Lukoil»

"Those companies are no parts of LUKOIL-Neftekhim and their names could be used to misinform counteragents"

Russian oil major Lukoil?s petrochemical LUKOIL-Neftekhim announced that it?s not related to LUKOIL Chemical Incorporated N.V. or LUKOIL Chemical Incorporated and has no stakes or interest in the companies.

?We think we should report that the above companies are no parts of LUKOIL-Neftekhim and their names could be used to misinform counteragents,? the company said, specifying it has good reasons to suspect those companies in using their names for fraud.

If existing at all, LUKOIL Chemical Incorporated N.V. is involved in claiming over $320,500 from LUKOIL-Neftekhim affiliates by using forged documents based on two real contracts made with the true affiliate of the Russian company - LUKOIL Chemical Trading N.V. (Netherlands) for C9-fraction delivery. The contracts were concluded with Sonntag Trading Inc. (USA) and Aramis Trading Ltd (UK) in June and December of 2004 respectively, according to sources familiar with the situation, Russian daily Kommersant reported.