Allliance Oil raises refining target for 2011

Alliance Oil Company has increased the refining target for its Khabarovsk Oil Refinery to 25 million barrels in 2011, due to increasing demand for oil products in Russia. This is an increase of 2 million barrels from a year ago. The increased fuel supply will be used to supply the Alliance retail network, as well as some wholesale sales. In the second quarter, the refinery processed 6.9 million barrels, up 15% from the same period last year, as oil product sales rose 17% to 7 million barrels. In the first half, the company’s crude oil production was eight million barrels. Its Khabarovsk Oil Refinery processed 13.1 million barrels of crude oil. Alliance Oil Company was created in 2008 through a merger of Alliance Oil and West Siberian Resources. The company is engaged in hydrocarbon exploration and production in the Komi, Tomsk region and the Volga-Urals region, as well as in Kazakhstan. It has a major filling station network in Russia’s Far East. (July 7, 2011)