Lukoil Makes Final Investment Decision on Nizhny Novgorod Refinery

Lukoil PJSC (LKOH.MZ) said Thursday that it has made a final investment decision on the delayed coker complex at the Nizhny Novgorod refinery in Russia, adding that it has signed contracts to develop the relevant technical documentation.

The Russian oil company said that it plans to construct the delayed coker unit, a diesel hydro-treatment unit, a gas-fractionation unit, sulfur and hydrogen-production units, as well as other infrastructure.

The designed capacity of the complex is 2.1 million tons per annum, Lukoil said.

It added that the construction of the complex and related operations optimization will improve the refinery's light-product yield by more than 10%, while reducing fuel-oil production by 2.7 million tons a year.

The complex is set to launch in 2021, Lukoil said.

Write to Ian Walker at ian.walker@wsj.com; @IanWalk40289749

(END) Dow Jones Newswires

November 30, 2017 02:39 ET (07:39 GMT)