Mozyr Oil Refinery to complete 2nd phase of reconstruction in 2010

 In 2010, Mozyr Oil Refinery will complete the second phase of reconstruction worth $479 million, director general of the company Anatoly Kupriyanov told reporters on 30 July. 

At present, the company is constructing a gasoline hydrodesulphurization complex which capacity will be 1 million tonne a year. The complex is expected to be launched in Q1 2010. In Q2 2010, Mozyr Oil Refinery will launch a hydrogen production complex with the capacity of 45,000 tonnes a year. At present the company is constructing a diesel hydro treating complex which capacity is 3 million tonnes a year. The new complex is to be inaugurated in 2010. It will help bring all the diesel fuel produced by the company in line with Euro-5 quality standards. This project is estimated at about $160 million. It is expected to pay back within five years. 

According to the director general, even during the economic crisis, the measures outlined in line with the second phase of the reconstruction will be fulfilled in full. To implement the reconstruction projects, Mozyr Oil Refinery attracts funds from company’s profits and investment loans. All in all, in H1 Mozyr Oil Refinery invested Br293 billion in fixed capital. 

By 2011, Mozyr Oil Refinery intends to build up processing volume up to 12 million tonnes a year owing to the modernization programme. At present, the company refines around 11 million tonnes of oil per year. 

Mozyr Oil Refinery has already started to implement the third and the fourth phases of the reconstruction. “We have already invested $13 million in purchasing licenses, implementing the basic design and other works dealing with these phases of the reconstruction,” Anatoly Kupriyanov said. 

Mozyr Oil Refinery was commissioned in 1975 and reorganized into an open joint stock company in 1994. The state holds 42.7% of its authorized fund; 42.6% of the shares belong to Slavneft company and the remaining 14.7% to other stake holders. The company is part of Belneftekhim concern. It produces gasoline, various fuels, including eco-friendly diesel, alkylate, utility gas, bitumen, commercial butane and lamp oil. In 2008, the company processed 10.9 million tonnes of oil.