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LUKOIL, Russia's second-largest oil producer, has completed a three-year upgrade of its Odessa refinery, which will help the firm to raise output of high-quality oil products, it said on Friday.
LUKOIL said in a statement it had modernised one of the plant's crude distillation units, increasing its annual capacity to 2.8 million tonnes from 2.4 million, while the second such unit was put out of operation.
The modernisation, which also included upgrading a hydrotreatment unit and building a visbreaking unit, will allow LUKOIL to increase refining depth to 78 percent from 56 percent.
The plant, which has an annual capacity of 4 million tonnes, was shut for reconstruction in 2005. LUKOIL has said the project would involve investment of about $320 million.
The company, in which U.S. major ConocoPhillips holds a 20 percent stake, has said annual production of high-octane gasoline would double after reconstruction to 740,000 tonnes, with output of diesel at about 960,000 tonnes.
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Russia's LUKOIL opens Odessa refinery after upgrade
