British Company Developing Feasibility Study for Construction of New Refinery in Ukraine for Processing Caspian Oil

Oil&Gas Materials 10 April 2008 18:25 (UTC +04:00)

Ukraine, Kiev, 10 April / Trend corr Z. Novosvitski/ The international consulting and engineering company Mott MacDonald Group Limited (UK) is developing a feasibility study for construction of a new refinery in Ukraine aimed at processing light Caspian oil, Bogdan Sokolovski, the Ukrainian President's Commissioner for International Affairs on Energy Security, said to journalists in Kiev on 10 March.

"The feasibility study which is being currently developed by Mott MacDonald will show whether that will be a plant or a complex of plants. The company will define to where, which volumes and markets the refinery will be intended for," he said.

According to Sokolovski, the refineries operating in Ukraine intend to process Russian Urals and REBCO oil. But the processing of Caspian oil in those refineries will be inefficient and unprofitable.

He said that supply of the Caspian oil to Ukraine from Azerbaijan is delayed because of the lack of an up-to-date refinery.

He is confident that attractive commercial terms on supply of the Caspian oil to Ukraine should be offered to Azerbaijan.

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