OREANDA-NEWS. February 27, 2012. TNK-BP is going to invest approximately 5 billion rubles in 2012 into modernization of the Saratov Oil Refinery (incorporated into the TNK-BP Group of companies), reported the press-centre of TNK-BP.

Reconstruction of the hydro-treatment unit and construction of an isomerization unit at the Saratov Oil Refinery will be completed by the end of 2012 in the framework of the fuel quality improvement program. The Saratov Oil Refinery is planning to start production of fuels meeting the Euro-5 standard by the end of this year.

The Saratov Oil Refinery is being modernized and upgraded as part of TNK-BP’s large-scale program for improving the quality of fuel at all refineries of the company. In September 2011, the Saratov Oil Refinery switched to production of Ai-92 gasoline compliant with the Euro-4 standard.

Informationforeditors
TNK-BP is the third largest oil company of Russia owned on a parity basis by BP and the AAR Consortium (Alpha Group, Access Industries, and Renova). TNK-BP owns about 50% of the Russian oil and gas company Slavneft. TNK-BP’s share in Russia’s oil production, including its share in Slavneft, is approximately 16%. As of December 31, 2010, the total proven SEC life-of-field (LOF) reserves of the company, estimated according to the US Securities and Exchange Commission (SEC), amount to 8.794 billion barrels of oil equivalent.

OJSC Saratov Oil Refinery was established on April 27, 1934 and incorporated into the oil company TNK-BP in 2003. The refinery turns out over 20 products, including unleaded gasoline, diesel fuel, fuel oil of all main grades, bitumen, vacuum gas oil, industrial-grade sulfur, and naphtha.