Russia’s Lukoil to invest over 86 billion rubles in Volgograd refinery upgrade

Lukoil is going to invest more than 31bn rubles by the end of 2014 in upgrading the Volgograd oil refinery, Lukoil head Vagit Alekperov has said at a meeting with the local governor, Andrey Bocharov. The Volgograd refinery is one of the Southern Federal District’s largest. Oil conversion ratio there equals 90%, compared to the Russian average of 71%. This has been due to technological modernisation as coke production was upgraded at the refinery, and a diesel hydrotreater and a waste heat boiler have been installed. Lukoil is going to invest a total of 86.7bn rubles in the refinery.

Copyright: Oil and Gas Information Agency, 2014