( Cihan ) - Russia's top oil producer Lukoil has suspended a project to build a refinery in Turkey due to poor economics, said chief executive Lukoil CEE Vagit Alekperov.
Lukoil will expand its existing refinery in Bulgaria's Black Sea port of Burgas instead of constructing a new one in Turkey, the company's CEO told reporters in a press briefing on Tuesday.
Burgas's capacity will rise to 10 million tones a year from 7.5 million tone a year now, Alekperov noted, without giving a timeframe.