Rosneft may merge with Yukos refinery in Samara

Jun 22, 2007 02:00 AM

Rosneft has decided what to do with the Yukos refinery in Samara. It already has one refinery there.
The company is considering merging the Kuibyshev and Novokuibyshevsk refineries into a single complex. The extension of the Transnefteprodukt petroleum product pipeline to the Achinsk refinery in Siberia is also under discussion.

Chairman of the financial advisory group to the president of Rosneft Peter O'Brien announced that the group's presentation on the strategic development of Rosneft's assets acquired from Yukos would be rescheduled from July 6 to October.
Alexander Sapronov, vice president of Rosneft in charge of refining and sales of petroleum products, told that the company plans to divide primary refining processes (straight-run gasoline, gas oil and fuel oil, at the Kuibyshev plant) and secondary processes (gasoline output, in particular, at the Novokuibyshevsk plant). The Novokuibyshevsk plant is the more highly technologically developed of the two, with a new isomerization apparatus.

Sapronov added that the company is considering the same plans for the Achinsk and Angarsk refineries in Eastern Siberian, which it bought at the auction of Yukos assets on May 3. Those refineries, however, are thousands of km apart. To deal with this problem, it is proposed to extend the Transnefteprodukt pipeline an additional 400 km to Achinsk Petrochemical Co.
Transnefteprodukt confirmed that negotiations over extending the pipeline are underway with the oil company. Experts estimated the cost of the undertaking at $ 280-450 mm.

The plans for the newly-acquired refineries may take years to implement. The sale of those plants is not being considered.
In addition, Rosneft has announced plans to build a refinery at the terminal end of the West Siberia-Pacific Ocean pipeline and to reconstruct the Tuapse refinery.

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