Lukoil to invest $270m on base oils production

22 February 2008 17:00  [Source: ICIS news]

LONDON (ICIS news)--Lukoil is planning to invest $270m in base oils production by 2017, Maxim Donde, CEO of LLK-International said on Friday.

Speaking at the 12th ICIS World Base Oils conference in London, Donde said that the company planned to increase production of group III oils from 24,000 tonnes/year to 50,000 tonnes/year by 2010.

The company is also aligning the quality of group I oils produced across its refineries.

“In 2005 there was a lot of variability in quality. By 2007 we made sure that Perm and Norsi were equally good. We have some room to improve quality at Volgograd and will do it in the next year,” Donde said.

Lukoil, which until now has not produced any brightstock at its units is also investing in brightstock production.

“In Perm the first 600 tonnes [of brightstock] was produced in January 2008 and continuous production is planned for April,” he said.

Speaking on the sidelines of the conference, Donde added that the company was as yet unsure of the exact details in terms of commercial availability dates and volumes.

Lukoil has three base oils production facilities in Russia, located in Perm, Volgograd and Nizhni Novogorod (Norsi).

The conference runs from 21-22 February in London.

By: Shelley Kerr
+44 20 8652 3214

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