Moscow Refinery Plans Upgrade

摘要

The Moscow refinery said Thursday that it will invest billions of rubles by 2012 in an upgrading project to improve fuel quality to Euro-4 standards. The first stage of the modernization, worth 11 billion rubles ($352.5 million), in- cludes replacing aging equipment and build- ing new facilities to produce high-value, low-sulfur products. Total spending this year is put at 5 billion rubles, the plant’s gen- eral director, Ildus Sarvarov, told Gazprom’s in-house magazine. The 240,000 b/d refin- ery is majority-owned by Gazprom oil arm Gazprom Neft, which has just raised its stake in the plant to 59.75% from 38.63%.