OREANDA-NEWS. On 03 April 2008 was announced, that Khabarovsk Refinery OJSC (KhNPZ), a subsidiary of the Alliance Oil Company, held an annual general shareholder meeting in Khabarovsk. The meeting drew up results of the KhNPZ operations in 2007 and reelected its executive boards.

In 2007, KhNPZ refined 3,237.6 thousand tonnes of crude (compared to 3,118.5 kt in 2006). Output of light oil products accounted for 1,840.7 kt (1,783.0 kt in 2006), or 57.09 percent of the total. High-octane gasolines amounted to 75.2 % of the total motor fuel volumes produced, while conversion rate accounted to 62.5 %.

The output by product was:

Gasolines    – 344.9 kt (340.7 kt in 2006);
Aviation kerosene   – 186.3 kt (203.2 kt in 2006);
Diesel and marine diesel – 1,029.2 kt (971.0 kt in 2006);
Fuel oil    – 1119.1 kt (1,106.1 kt in 2006).

During the year, a second phase of flotator (waste water treatment unit) was commissioned at the Refinery. Commencing from 2007, KhNPZ has been producing new gasoline grades GreenEco-95 and GreenEco-98, which secure better fuel saving engine capacity as well as better environmental friendliness and cold start properties. A construction of a new rail gantry was started.

In November 2007, the Alliance Oil and Tйcnicas Reunidas (Spain) signed a contract to construct a complex of hydrogenation processes. The complex is to be commissioned early in 2011 and is to increase the light products yield, to reduce losses and sulfur content in fuels.

The AGM resolved to approve of the results of the financial activity of the refinery over 2007. EBIT accounted to RUR 70.1 mln. (RUR 35.6 mln. in 2006), while net earnings from sales – RUR 1,555.4 mln. (RUR 1,180.1 mln. in 2006), net profits soared to RUR 32.4 mln. (RUR 8.8 mln in 2006), and current income tax – to RUR 34.0 mln. (RUR 9.7 mln. in 2006).

The shareholders resolved to pass dividend for ordinary shares and to pay dividend of RUR 1 for every preferential share with a face value of RUR 1.
The KhNPZ BD’s elected members are Vladimir Popov (1st deputy Chairman of the Khabarovsk region government), Victor Lemekha (GD of KhNPZ), as well as Galina Grishina, Igor Muravyov, and Dmitriy Shekera, who represent the Alliance Oil.