“LUKOIL-Nizhegorodnefteorgsintez” to abandon lubricant refining

LUKOIL-Nizhegorodnefteorgsintez” LLC has ceased production of motor oils since April 2015. The company's CEO A.Kovalenko said. According to him, the decision has been taken due to market conditions and the economic situation. The raw material that was used in the production of oils, will be directed to a second catalytic cracking complex of vacuum gas oil, which is currently at the stage of hot commissioning and will be put in operation in July this year. Mr. Kovalenko said oil production volume gradually decreased at “LUKOIL-Nizhegorodnefteorgsintez” recently. The company produced about 180 thousand tons of oil a year with a maximum capacity of 250 thousand tons. At the same time, oil production will be kept at two other enterprises of the company. They are LUKOIL-Permnefteorgsintez and LUKOIL-Volgogradneftepererabotka.