RussNeft has come to an agreement in principle with the shareholders of ‘Krasnodar Oil Refinery – Krasnodarekoneft’ ZAO on acquisition of 75% stake at the refinery. With effect from January 2006 RussNeft will assume responsibility and operational control of the refinery, the company said in a statement.
Krasnodarekoneft produces feed for petrochemistry, gas oil and bitumen for road industry. The refinery is the only one in this country producing higher density fuel for jet engines of T-1pp type.
The capacity of the refinery is 3.1 million tons per year.
