PROJECT

Projects

Environmental Review Summary

Project Number

21154

Company Name

PETROTEL - LUKOIL SA

Date ERS Disclosed

Jul 22, 2003

Country

Romania

Region

Europe

Environmental Category

B - Limited

Status

Completed

Previous Events

Approved : Jun 7, 2005
Signed : Oct 19, 2005
Invested : Dec 7, 2005

Sector

Oil Refineries

Industry

other

Department

Regional Industry MAS LAC & EUR

Project Description

The proposed project by Petrotel, an entity of the Russian oil producer OAO Lukoil, involves a large-scale upgrading and modernization of the Petrotel-Lukoil refinery in Ploesti, Romania. The existing refinery, which has been shutdown since 2001, can produce a wide range of products and has an annual capacity of 4.7 million tonnes. The project involves updating the refinery’s equipment and starting the production of high quality products that will comply with EU requirements and Euro-3 standards in 2004. The total project cost is estimated at $97 million, with refinery start-up proposed for 2004.

Environmental and Social

Conclusion & Monitoring