Lukoil and Russian Ministry of Energy conclude agreement on construction of deep oil refining units
LUKOIL will build a Petroleum Residue Recycling Facility at its Nizhny Novgorod refinery. Construction is already underway. The facility is set for commissioning in the fourth quarter of 2021. The project should allow to decrease annual fuel oil output at the Nizhny Novgorod refinery by 2.6 million tonnes and increase annual Euro-5 diesel fuel output by 0.7 million tonnes. The refinery yield will thus increase to 97%, with light products yield reaching 74%. Implementation of the project will lower LUKOIL Group’s total fuel oil output to less than 4% and increase light products yield to 75%.