Perm Oil Refinery plans to boost investment program 12% in 2012
PERM. Feb 24 (Interfax) - LLC LUKOIL-Permnefteorgsintez (Perm Oil Refinery) will invest 3.083 billion rubles to develop its production this year, or 12% more than in 2011, a refinery representative told Interfax.
The Perm Oil Refinery's investment program could be revised upwards in March by stepping up financing for a project to build a petroleum residues processing complex (plasma-fuel oil refining), the representative said. He did not specify by how much the investment program will be expanded. The refinery plans to start building the complex this year.
Investment program funds will also be used this year to modernize tube furnaces, construct a complex for utilizing solid petroleum residues capable of turning out 30,000 tonnes a year, implement an energy supply program and repair over 20 units.
By the end of this year, the Perm Oil Refinery plans to commission a solid oil-contaminated waste processing unit worth about 800 million rubles. In 2009, the refinery commissioned a 300-million-ruble liquid oil-contaminated waste unit.
In the middle of 2014, the Perm Oil Refinery plans to finishing building a petroleum residues processing complex (plasma-fuel oil refining) worth $650 million. Once the project is implemented, oil refining depth at the enterprise will grow from 86% to 98%, and diesel fuel output will expand by 1 million tonnes a year. The complex will include a delayed coking unit, a hydrotreating unit for diesel fractions and a hydrogen production unit.
LUKOIL-Permnefteorgsintez is an oil refinery that ships 40% of its products for export.