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.