Naftan plans to increase oil refining by 14.3% in 2021 to 8m tonnes - CEO
<p> MINSK, Mar 5 - PrimePress. Naftan Oil Refinery (Novopolotsk, Vitebsk Oblast) is planning to increase oil refining by 14.3% year on year in 2021 to 8 million tonnes, said Naftan CEO Andrei Soiko. </p> <p> </p> <p> In particular, Naftan plans to process more than 600 thousand tons of alternative oil other than Russian crude. </p> <p> </p> <p> “To keep the refinery’s production facilities continuously busy, we had to diversify hydrocarbon supplies. Along with pipeline oil from the Russian Federation, we received [in 2020] oil from alternative sources - it was delivered by tankers from Norway, Saudi Arabia, we also received American grades of oil. The total volume of alternative crude processed by Naftan during the period under review is over 600,000 tonnes,” said Soiko in an interview to the Naftan corporate newspaper. </p> <p> </p> <p> In his words, cost reduction, increase in profitability of business activities and external compensatory measures enabled Naftan to make a profit by the end of the year 2020. At the same time, he said, the export target was not met for objective reasons: in the first quarter of 2020, due to lack of agreements on oil supplies by pipe, Naftan was forced to reduce capacity utilization with a corresponding decrease in oil product output, while maintaining oil product supplies to the domestic market. </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. The state holds a 99.83% stake in Naftan’s statutory capital. </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>
2021-03-06
Primepress
Naftan plans to increase oil refining by 14.3% in 2021 to 8m tonnes - CEO
MINSK, Mar 5 - PrimePress. Naftan Oil Refinery (Novopolotsk, Vitebsk Oblast) is planning to increase oil refining by 14.3% year on year in 2021 to 8 million tonnes, said Naftan CEO Andrei Soiko.
In particular, Naftan plans to process more than 600 thousand tons of alternative oil other than Russian crude.
“To keep the refinery’s production facilities continuously busy, we had to diversify hydrocarbon supplies. Along with pipeline oil from the Russian Federation, we received [in 2020] oil from alternative sources - it was delivered by tankers from Norway, Saudi Arabia, we also received American grades of oil. The total volume of alternative crude processed by Naftan during the period under review is over 600,000 tonnes,” said Soiko in an interview to the Naftan corporate newspaper.
In his words, cost reduction, increase in profitability of business activities and external compensatory measures enabled Naftan to make a profit by the end of the year 2020. At the same time, he said, the export target was not met for objective reasons: in the first quarter of 2020, due to lack of agreements on oil supplies by pipe, Naftan was forced to reduce capacity utilization with a corresponding decrease in oil product output, while maintaining oil product supplies to the domestic market.
Launched in 1963, Naftan is Belarus’ largest refinery and one of the largest in Europe. In 2008 Naftan incorporated another Belarusian refinery Polimir. The state holds a 99.83% stake in Naftan’s statutory capital.
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