TNK-BP Boosts Investment in Saratov Refinery by 30%

Июля 08, 2010

TNK-BP has boosted investment in the renovation and modernization of the Saratov Oil Refinery during the first half of 2010 to 200 million rubles, which is over 30% more than last year. The company plans to invest a total of 2.3 billion rubles in 2010 (compared to 1.8 bn rubles in 2009).

Under the Cooperation Agreement signed between TNK-BP and the Government of Saratov Region, investment in the development of the company’s Saratov subsidiaries is to rise by 27% in 2010.
TNK-BP is planning a number of major investment projects at the Saratov Refinery during 2010—12: construction of an isomerization plant, renovation of the diesel hydro treatment plant and sulfur unit, and completion of upgrading work on the rail loading rack for petroleum products. At a cost in excess of $300 million, these projects will enhance the refinery’s product quality and reinforce its leading position on the oil products market.
“The 3-year investment programme will not only enable the refinery to produce competitive products, but will also improve the environment in the region. For example, construction of the isomerization and sulfur plants and the renovation of the hydro treatment facility will reduce the sulfur content in our fuel products, thereby reducing the damage done to the environment by automobile exhaust fumes,” said the general director of the Saratov Oil Refinery Aleksandr Romanov.