Belarus will decide on oil plant sale by year-end

MINSK, Aug 26 (Reuters) - Belarus will decide by the end of the year whether to sell half its shares in the Naftan oil refinery and Polimir petrochemical firm to Rosneft (ROSN.MM: Quote, Profile, Research, Stock Buzz) or LUKOIL (LKOH.MM: Quote, Profile, Research, Stock Buzz), the company which owns them said on Tuesday.

Mikhail Osipenko, a deputy head of Belarussian oil producer Belneftekhim, said the two Russian oil majors were working out business plans.

"A decision will be taken according to the results of the business plans ... We will look at their suggestions until the end of the year," he told a news conference.

LUKOIL said it will present its business plan in September, Rosneft a little later, he added.

Belarus said it planned to sell 50 percent in a combined company that would unite the Naftan and Polimir plants with connected technology processes.

Naftan, one of Belarus's two refineries, processed around 200,000 barrels per day last year. (Reporting by Andrei Makhovsky, editing by William Hardy)



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