RussNeft Considers Construction of Refinery in Bryansk Region with Project Financing.

She reminded that in June 2005 the company commissioned the oil loading terminal in the Bryansk region. The terminal is designed to annually transship 5 million thousand tons of crude oil with subsequent increase to 7 million tons. O.Prozorovskaya pointed out that it is expedient for RussNeft to build a refinery next to the terminal which can make it more economically efficient.
The vice president of Russneft also said that presently it is difficult to talk about the exact date of the refinery construction because time is needed for the company to get firmly established. At the same time she didn’t rule out that this plan could be implemented at the expense of project financing. As one of the options the financing can be done on the security of the refinery shares. She said that in any case, it was going to be a self-sufficient and offset project sparing the company a debt load. According to the vice president of RussNeft presently the company’s debt load ranges from $10 to $11 per one ton of extracted crude oil.
During 2005 RussNeft has had refined 4 million tons of crude, of which 3 million tons at Syzran Refinery and 1 million tons at Mozyr Refinery.