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16-10-2012

TNK-BP to invest $537M in modernization of Ryazan oil refinery

TNK-BP announces that it will invest $537 mln in the modernization of facilities at its Ryazan Oil Refinery between 2012 and 2015 for a full transition to Euro-5 motor fuels production.

The modernization programme includes the renovation of existing plant facilities and the construction of new isomerization and hydrotreatment units for gasoline produced by catalytic cracking. Motor fuels meeting the requirements of Euro-5, the highest environmental standard, currently account for 49% of the Ryazan Oil Refinery Company’s (RORC) total output.

TNK-BP plans to invest a total of $2.5 bn in upgrading its refineries between 2012 and 2015.

“In July 2012, the Ryazan Refinery switched to producing 95 and 98 octane motor fuels of Euro-5 standard. Achieving a complete transition to fuels meeting the highest environmental standard is a strategic objective for RORC. Work is proceeding strictly to schedule. The project is being implemented under a four-party agreement between TNK-BP, the Federal Ecological, Technological and Atomic Supervision Service, the Federal Agency for Technical Regulation and Metrology, and the Federal Antimonopoly Service,” said Anatoliy Skoromets, RORC’s General Director.

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