LyNIK completes upgrade of Lysychansk oil refinery

LyNIK, a subsidiary of TNK-BP, announced the completion of its Lysychansk oil refinery upgrade. The refinery is located in the Luhansk region. With the upgrade, the refinery will be able to produce Euro 4-compliant gasoline. According to Didier Casimiro, chief executive officer (CEO) of TNK-BP, the refinery upgrade which included modernizing the diesel fuel hydrotreatment and isomerization units and upgrading the reforming and catalytic cracking units, came to US$120 million. The Lysychansk refinery may be refitted to produce Euro 5-compliant products in 2012, depending on the Ukranian market. (July 3, 2011)