24 Oct 2011 13:13

Lukoil to boost investment in oil refining 40% to $3 bln in 2012

MOSCOW. Oct 24 (Interfax) - Lukoil will boost investment in oil refining 40% in 2012 to $3 billion, the company's first vice president, Vladimir Nekrasov, told reporters.

This year's investment will be $2.2 billion, Nekrasov said. Lukoil also plans to invest $3 billion a year in refining in 2013 and 2014, and $24 billion in total over the next ten years.

Lukoil expects to refine 66 million tonnes of crude in 2011 - 45 million tonnes of it at Russia-based refineries; and 67 million-68 million tonnes in 2012, of which 46 million-47 million tonnes.