TNK-BP to invest US$537 million at Ryazan refinery

TNK-BP, a leading Russian oil company, announced plans to invest US$537 million towards the modernization of the facilities of the Ryazan Oil Refinery Co. (RORC)
RORC is TNK-BP’s biggest refining subsidiary. It produces a wide range of high-quality oil products: AI—80, AI—92, AI—95 and AI—98 motor gasoline, diesel fuel — including low-sulfur Euro 4 and Euro 5 grades — jet fuel, boiler fuel, road and construction bitumens, lubricants and other oil products. The refinery has a capacity of 17 million tons of oil per year.
The modernization program began in 2012 and is slated to end in 2015. The project will allow for a full transition to Euro 5 motor fuels production. The refinery switched to producing Euro 5 standard 95- and 98-octane gasoline in July 2012.
“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,” the company explained in its website.
The company said it plans to invest a total of US$2.5 billion for the upgrade of its refineries from 2012 to 2015. (October 16, 2012)