Economic benefits of Naftan’s upgrade estimated at $150m per year
<p> MINSK, Aug 16 - PrimePress. The economic benefits of the slow coking technology implemented at Naftan Oil Refinery (Novopolotsk, Vitebsk Oblast) may be as large as $150 million per year, Naftan’s corporate bulletin reports. </p> <p> </p> <p> The construction of a slow coking facility with a capacity of 1.6m tonnes per year is Naftan’s major upgrade project with a total investment of $1.6bn. As a result of the upgrade, Naftan will be able to process up to 12m tonnes of oil per year, the oil conversion ratio will increase to 90%, and the yield of light oil products will be at least 70%. Initially, they had planned to complete construction and installation operations in Nov 2019 and reach the rated capacity by mid-2020. Now the launch has been postponed till 2021. </p> <p> </p> <p> Russia has been implementing a tax reform in its oil industry, which results in moving the oil price for Belarus towards the global level. Minsk estimated losses at up to U.S. $11 billion in six years, the reform period, and at $400 million in both 2019 and 2020. </p> <p> </p> <p> Launched in 1963, Naftan is Belarus’ largest refinery and one of the largest in Europe. In 2008 Naftan incorporated another Belarusian refinery Polimir. </p> <p> </p> <p> Naftan produces euro-4 and euro-5 diesel fuel, petrol and lubricants, which are exported to the EU, the Middle East and the United States. End </p>
2021-08-17
Primepress
Economic benefits of Naftan’s upgrade estimated at $150m per year
MINSK, Aug 16 - PrimePress. The economic benefits of the slow coking technology implemented at Naftan Oil Refinery (Novopolotsk, Vitebsk Oblast) may be as large as $150 million per year, Naftan’s corporate bulletin reports.
The construction of a slow coking facility with a capacity of 1.6m tonnes per year is Naftan’s major upgrade project with a total investment of $1.6bn. As a result of the upgrade, Naftan will be able to process up to 12m tonnes of oil per year, the oil conversion ratio will increase to 90%, and the yield of light oil products will be at least 70%. Initially, they had planned to complete construction and installation operations in Nov 2019 and reach the rated capacity by mid-2020. Now the launch has been postponed till 2021.
Russia has been implementing a tax reform in its oil industry, which results in moving the oil price for Belarus towards the global level. Minsk estimated losses at up to U.S. $11 billion in six years, the reform period, and at $400 million in both 2019 and 2020.
Launched in 1963, Naftan is Belarus’ largest refinery and one of the largest in Europe. In 2008 Naftan incorporated another Belarusian refinery Polimir.
Naftan produces euro-4 and euro-5 diesel fuel, petrol and lubricants, which are exported to the EU, the Middle East and the United States. End