ZAO TURSUNT FILES A $300 MILLION SUIT AGAINST LUKOIL

In a statement today, The General Director, Zao Tursunt Oil and gas, Mr Vasily Basarab, called for Justice concerning the long overdued dispute between Zao tursunt and Lukoil, he said " the settlement will provide my company with a fair chance to compete independently in the Oil and Gas Sector and threatens to make Lukoil increasingly irrelevant in their commercial activities. we have always engaged in our business practices in accordance with governmental law enforcement Authorities in Russian federation, therefore we will not be sujected to paying $78.40 million in lieu of costs incurred by Lukoil in this dispute. We appeal to the management Board of Lukoil, our esteemed parent company to extend a hand of fellowship in ensuring that Zao Tursunt’s reputation for integrity is maintained."We believe this settlement is in the best interests of our customers, eliminating the uncertainty that this dispute has generated, we May withdraw the 300 million dollar suit against Lukoil and are willing to settle all legal disputes in all Jurisdictions if Lukoil refrains from all impediments to critical thinking with regards to denting our image and reputation and we will still remain a subsidiary company to Lukoil".