PJSC Lukoil finished construction of a Petroleum Residue Recycling Facility with production capacity of 2.1 million tonnes per year at its LUKOIL-Nizhegorodnefteorgsintez LLC refinery, said the company.
The facility is comprised of a delayed coking unit, diesel fuel and gasoline hydrotreatment unit, fractioning column, hydrogen and sulphur production unit, as well as infrastructure facilities.
Implementation of the project will allow to increase annual Euro 5 diesel production by 1.1 million tonnes, decrease fuel oil share in production mix, as well as create over 200 high-tech jobs in the region.
The construction of the facility started in 2018. Up to 7 thousand people worked every day at the 430 thousand m2 construction site.
We remind, Italian authorities have provided Lukoil with a "comfort letter" to help a refinery it owns in Sicily get bank financing to buy non-Russian oil and remain operational. The move is aimed at staving off worries that Lukoil's ISAB refinery, which accounts for around 20% of Italian refining capacity, stops working due to an embargo on seaborne Russian oil that comes into force on Dec. 5. ISAB has been forced to rely solely on Russian oil after creditor banks halted financing and stopped providing guarantees needed to buy oil from alternative suppliers.
Lukoil is one of the largest oil & gas vertical integrated companies in the world accounting for over 2% of crude production and circa 1% of proved hydrocarbon reserves globally. LUKOIL enjoys a full production cycle to control the entire value chain from upstream to downstream. Lukoil employs over 110 thousand people who join their efforts and talents to secure the Company’s market leadership.
mrchub.com