print version 

Find company
Home About the ProjectContact usFor the Clients
Enter code or ISIN
 
alpha / industry search

Issuers' Corner
Press Releases
Annual Reports Library

Financial Statements
SEC & FFMS Filings
Corporate Presentations
GM Materials
Issues Documents
Corporate Governance Materials
Russian Company Guide
Company Profiles
Corporate Calendar
Markets Corner
Consensus Estimates
Media Corner
News Line


Get updates



Home  Issuers' Corner  Press Releases  Oil Company "LUKOIL" REGISTER LOG IN

Press Releases > Oil Company "LUKOIL"  all about the company

company search
all press releases
all Oil Company "LUKOIL" press releases

Oil Company "LUKOIL"

October 2, 2009

LUKOIL has to suspend operations at Odessa Refinery

The LUKOIL management decided to suspend operations at Odessa Refinery (Ukraine) incorporated in LUKOIL Group.

This forced decision was prompted by the activities of the Ukrainian company OAO Ukrtransnafta which ceased to pump oil via the route Lisichansk -  Kremenchug  - Odessa Refinery on October 1, 2009. 

The other oil delivery routes to Odessa Refinery suggested by OAO Ukrtransnafta would considerably increase oilstock prices and cause losses, LUKOIL specialists believe. For instance, an alternative route, Belarussian border - Brody - Odessa, would increase transportation costs by USD 5.7 per ton. 

Besides, ÎÀÎ ÀÊ Transneft is technically incapable of ensuring uninterrupted oil deliveries to Odessa Refinery via other routes in October, 2009.

Thus, LUKOIL has to suspend operations at the refinery for an uncertain period and cease petroleum products manufacturing.

The chances are that if deliveries to the refinery do not resume very soon on economically effective conditions and with consideration taken of OAO AK Transneft’s technical capabilities, the refinery will have to start dismissing its personnel. At the same time, the tax deductions to the budget would reduce drastically too.

Besides, there may appear shortages in the supply of high-quality fuel, which might entail higher prices and poorer-quality petroleum products in the market.

Presently, the LUKOIL management are doing their best to resolve the problem and resume operations.

Odessa refinery rated capacity is 2.8 million tons, refining depth is 71.6%. Light products output is 46.2%. In 2008 the refinery throughput reached 2.04 million tons of oil, the output of petroleum products was 1.96 million tons.

 

 

 

Search by industry

Agriculture, Foresty and Fishing | Chemicals | Engineering | Ferrous Metals | Financial, Insurance & Real Estate | Food & Kindred Products | General Construction | Information Technology | Media & Publishing | Non-Ferrous Metals | Oil & Gas | Pharmaceuticals | Power Industry | Precious Metals and Diamonds | Telecommunications | Transportation | Wholesale & Retail Trade

Search by alpha index

A B C D F G H I K L M N O P R S T U V W X Z


Site Map
© RUSTOCKS.com
Privacy Statement | Disclaimer