OREANDA-NEWS. November 3, 2011. Novikombank is continuing to increase its financing to Russian industry. Leading refiners and oil companies are among the bank’s new partners.

In September 2011, Novikombank helped finance construction stage III of the Antipinsky refinery, providing a loan of U.S. USD 30 million. The completion of stage III will increase the crude oil distillation capacity of the plant to 7 million tons per year.

By developing its partnerships with the oil industry, Novikombank is actively promoting the modernization and increased competitiveness of the Russian oil and gas sector. Novikombank’s partners are leading fuel and energy companies such as the Transneft Joint-Stock Company (OJSC), the Itera Group, RusHydro, Zarubezhneft, etc.

In 2011, the Bank has continued to extend credit to oil companies. In particular, in August this year Novikombank provided U.S. USD 35 million to Tomskneftepererabotka for it to complete the modernization of its plant in order to increase production from 200 to 400 thousand tons of oil per year.