Moscow Oil Refinery faces downturn in operations

In accordance with the order of the general director of the Moscow Oil Refinery, the enterprise will begin to process only 7,000 tons of oil a day effective today. As RBC got to know from senior officials, the refinery will receive about 250,000 tons of crude to process, whereas its August production plan envisages the output of 870,000 tons of oil. So, the enterprise will not be able to operate at full capacity until crude oil supplies resume as before, a representative of the Moscow Oil Refinery said in an interview with RBC.

As it was reported earlier, the Moscow Oil Refinery will halt operations this afternoon due to an insufficient workload. In August the Moscow Oil Company will supply only 50,000 tons of crude out of the promised 250,000 tons. Additionally, in accordance with the court ruling, Transneft stopped providing oil transportation services to the Nafta Petrol oil trading company, which owes 400,000 tons of oil to the Moscow Oil Refinery this month. Sibneft will provide only 20,000 tons of crude to the refinery in August.

The market share of the Moscow Oil Refinery is 30 percent. Last year it processed 9,775,000 tons of oil. The majority shareholders of this enterprise are Sibneft (37 percent), the Central Fuel Company (51 percent) and Tatneft (10 percent).

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