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Bulgaria's sole operational oil refinery, Lukoil Neftochim, could become "the best in Eastern Europe" after the installation of a hydrockacking facility. Photo by BGNES
Lukoil plans to invest around USD 25 B in oil processing and petrochemical manufacture in the next 10 years, according to Vagit Alekperov, President of the Russian oil giant.
In a Monday media statement, Alekperov revealed that in end-September the company would sign a contract with French Tecnip for the construction of the biggest hydrocracking facility in Eastern Europe at Bulgaria's Burgas-based Lukoil Neftochim refinery.
"Tecnip will be under obligation to build the unique installation in 35 months' time, thereby making the plant the best in Eastern Europe in terms of depth of oil refining", Lukoil's President stated.
Lukoil Neftochim, Bulgaria's sole operational refinery, has an annual capacity of 9.8 M tons.
In 2010, the plant processed a total of 5.95 M tons of crude oil.
The refinery's Nelson index is 8.9.
Lukoil owns a total of 10 refineries, half of which are located in Russia.
The company's overall refining capacity in 2010 stood at 66 M tons.
Lukoil's Burgas-based plant had its tax warehouse operator license revoked in end-July over its failure to install electronic measuring devices within the statutory deadline.
The preliminary execution of the suspended permits, which had been ordered by Customs Head Vanyo Tanov, was stopped through a ruling of the Administrative Court Sofia-City (ACSC).
The refinery resumed production shortly, pending the substantive examination of the case by the ACSC.
ACSC's decision is not final and can be appealed before the Supreme Administrative Court (VAS).
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