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Ukraine's State Property Fund has confirmed that Kazakhstan's state oil company has been chosen as the winner of a privatisation tender for a 60% interest in the Kherson oil refinery.
The announcement came as no surprise, since Kazakhoil has been managing a controlling stake in the refinery plus one share since 1999, and analysts said when the tender was called that they expected the Kazakhstani company, which is keen on establishing a niche for itself in the Ukrainian fuel market, to bid.
The Ukrainian government originally said it wanted to sell 50% plus one share in the refinery. Kazakhoil...