Romania: Lukoil oil refinery will be main hub for Iran oil exports to Europe

3. March 2016. / SEE Energy News

Petrotel – LUKOIL refinery prepares for production growth this year to 2.6 million tonnes, close to the annual maximum capacity (2.7 million tons of crude oil).

The first week of March Petrotel–LUKOIL expects one million barrels of crude oil from Iran, one of the first shipments of crude oil to Europe, after the lifting of sanctions on Tehran. Refinery envisages diversification of raw material, anticipating resources available in Russia. Since taking over the refinery in Ploiesti, LUKOIL invested in those plants about 570 million dollars, primarily in enhanced security, second in achieving all of the medium (120 million dollars), which is add 40 million dollars cleaning costs directly linked to historical pits.

Petrotel Lukoil main source of crude oil was Russia. Now, this resource is declining, following the opening of two pipelines to China. Therefore, we try to prepare for the next 5-6 years for a shift from the assortment of mixes for Urals crude. For example, last year we processed and crude oil from Iraq and Angola. As for that much-discussed one million barrels of crude oil from Iran, yes, we transport that in the first week of March, said Danulescu Dan, deputy general manager LUKOIL Petrotel-

Given the diversity of business that Lukoil has in Romania, at the moment, and that is considered strategic for Lukoil Romania, I believe the business will be stable in Romania in the next period.

Lukoil is the largest private oil and gas company in Russia, present in Romania since 1998, when it acquired the refinery Teleajen. In its 18 years of activity in Romania, Lukoil has developed on nearly every sector of the oil and gas: distribution, refining, oil production, exploration, energy and now counts close to 6,000 employees, transmits Serbia-energy.eu

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