Eastern European late March downstream update

Poland

The Polish government is cautious regarding a prospective US$ 1 billion takeover of state controlled refiner Grupa Lotos SA by a Russian investor. The trepidation reportedly stems from Poland’s partial dependence on Russian crude oil. Poland will asses bids for the 53% stake in September or October

Romania

Petrom has announced the permanent closure of the landlocked Arpechim refinery due to a need to increase efficiency. The option of selling the facility was not exercised, as no credible buyer with the operating expertise and financial resources to undertake the project was identified.

Russia

Bashneft has awarded Foster Wheeler an engineering and material supply contract for the JSC Novo-Ufimsky refinery in Ufa, Bashkortostan. The company will provide a new terrace wall steam reformer heater and air preheating system. Work is scheduled for completion by mid-2012.

Read the article online at: https://www.hydrocarbonengineering.com/gas-processing/31032011/eastern_european_late_march_downstream_update/