LUKOIL has been operating in Volgograd Region since 1991 when LUKOIL-Volgogradneftepererabotka became the company's 1st asset in the region.
Presently, the company runs a full production chain cycle in the region, from exploration and extraction of hydrocarbons to the generation of electricity and heat.
Presidential envoy V.Ustinov said:
- Today we are here to launch a unique production facility, and it is not just about equipment, it is about people
- Over 4 000 employees work here. Therefore, this launch affects not only production, but also social sphere
- LUKOIL is a leader in modernization of refineries. Between 2011 and 2020, the company invested over RUB 163 billion under 4-way agreements
- 10 secondary processing units were commissioned at LUKOIL refineries. This year, an isomerization unit is set for launch at the refinery in Nizhny Novgorod region
- All this enabled LUKOIL to become the 1st Russian company that produces only fuels compliant with class 5 environmental standards
- The Volgograd refinery is one of the most efficient in Russia
- Over the years, LUKOIL invested RUB 172 billion in its modernization, thus increasing depth of refining to 96.7%
- Despite the pandemic, we carry on with selected investment projects to further enhance the product range of our refineries. This year we plan to commission a delayed coking unit at our Nizhny Novgorod refinery
Use of advanced high viscosity base stocks renders possible production of engine oils suitable for modern industrial vehicles and cargo trucks that function in rough environments and cold weather.
Another major advantage of these oils is their increased oxidation resistance, which provides for longer drain periods.
LUKOIL's cumulative investment in the new facility amounts to RUB 10 billion.
The company also continues construction of the 2nd stage of the solar power plant (SPP) with installed capacity of 20 MW at the Volgograd refinery.
Its launch, set for 2021, will increase the SPP total capacity up to 30 MW.