Belarus expects $1.7bn will be invested in Mozyr refinery

As much as $1.7 billion will be invested in the modernization of Mozyr Oil Refinery, BelTA on April 7 learned from Vladimir Sizov, Acting Deputy Chairman of the Board of the Belarusian petrochemical concern Belneftekhim. The information was released at the conference scheduled to take place in Minsk on 7-8 April to discuss oil processing and the export of Belarusian oil products.

Since the Russian company Slavneft owns 42% of the shares of Mozyr Oil Refinery, the modernization program is expected to be financed on parity basis.

According to Vladimir Sizov, the Russian shareholders are now channeling all the profits into the oil refinery’s modernization. The key purpose of the program is to increase the crude oil upgrading index up to 90%, increase the output of gasoline with the octane number of at least 95 to 3 million tonnes, increase the output of diesel fuel up to 4.7 million tonnes, and reduce the output of furnace oil down to 700,000 tonnes.

Copyright: BelTA, 2014