RussNeft Allotted $3 Million to Replace the Catalyst on the Reformer of the Orsk Refinery
Moscow – July 4. Interfax –ANI – Oil Company RussNeft OAO has allotted $3 million to replace the catalyst on the reformer of its subsidiary Orsknefteorgsintez OAO, RussNeft says in a press-release.
The company plans to invest a total of nearly $7 million in the modernization of the equipment at the Orsk Refinery.
As the press-release points out, the replacement of the catalysts is a stage in the modernization of the refining sector of the company aimed at changing over to the production of Euro-3 and Euro-4 standards. The modernization of the reformer unit being the main producer of the blending fuel will allow to boost the production of high-octane gasoline and increase the efficiency of crude oil refining.
American UOP developing licensed materials for oil refining, petrochemical and gas industries has become a partner of RussNeft in this project.
As reported earlier, on December 22, 2005 RussNeft took over the assets bought from TNK (РТС: TNKO)-BP, including Orsknefteorgsintez OAO.