Lukoil Petrotel

completed

OAO Lukoil is Russia’s largest integrated oil company. In 1998, Lukoil acquired the Petrotel refinery from the Romanian government through a privatization process. Since then, Lukoil has expanded its downstream operations in Romania to include about 300 retail petrol stations, 60 LPG filling skids and 8 petroleum distribution centers throughout the country. Through these targeted investments, Lukoil succeeded in creating a fully-integrated business chain starting at the oil well in Russia and going all the way downstream to the pump in Romania. Apart from the Romanian fuel wholesale and fuel retail market, Lukoil’s Romanian operations also cater to the Moldavian market and other export markets through Lukoil’s international trading company, Litasco International S.A. The project involves the modernization and revamping program of S.C. Petrotel-Lukoil S.A. (Petrotel), its Romanian refinery. The project is aimed at: - providing high quality petroleum products to Romanian consumers that comply with European Euro-3 and Euro-4 standards, - improving refinery operations by increasing the output of higher value petroleum products and reduce emissions and energy consumption; and providing high quality petroleum products to Romanian consumers that comply with European Euro-3 and Euro-4 standards. This in turn will strengthen the overall long-term competitive position of Lukoil’s entire downstream network.