Gazprom Neft to invest US$405 million in Omsk refinery update by 2012

Russia’s Gazprom Neft expects to invest Rb12 billion (US$404.877 million) in construction of two hydroforming units at its Omsk refinery, with the aim of launching production of motor fuels meeting the Euro 4 and Euro 5 standards by 2012, the company said. Gazprom Neft plans to build a catalytic reforming unit for gasoline, with a capacity of 1.2 million metric tons per year (MTPY), and a catalytic reforming unit for diesel, with a capacity of 3 million MTPY. The company comments followed an official ceremony to launch the construction. The project is a part of the refinery’s comprehensive modernization program, a Gazprom Neft spokeswoman said, declining to give the total investment in the Omsk refinery upgrade planned for the period until 2012. The company is to invest over US$150 million in the Omsk refinery this year, according to company materials released. (March 11, 2010)