Ukrainian Kremenchuk Oil Refinery wants to purchase larger volumes of Azerbaijani oil

The Kremenchuk Oil Refinery hopes to increase its purchase of Azerbaijani oil to 5-5.5 million tons in 2011, RBK cited Ukrtatnafta Chairman Pavel Ovcharenko as saying.

The monthly receipt of Azerbaijani oil by the Ukrainian side would thus increase from 240,000 to 400,000 tons.

"A contract would be signed to increase the supplies," Ovcharenko said.

He stressed that there will be "no problems" increasing the supplies, as it is beneficial for Azerbaijan to sell oil to Ukraine.

Azerbaijan increased oil supplies to Ukraine by 7.9% in 2010. All Azerbaijani oil supplied to the Ukrainian oil refinery was delivered to the Kremenchuk Oil Refinery. Oil supplies to the refinery last year increased by 26.9% to 3.4 million tons. During this period, a decrease was observed in Ukrainian oil supplies to the refinery. In 2010, the refinery received about 1.8 million tons of Ukrainian oil, while Azerbaijani oil supplies doubled to more than 1.6 million tons.

Azerbaijani oil supplies to the refinery started in 2009. Deliveries are carried out on a tender basis from ports on the Black and Mediterranean seas where Azeri Light oil is delivered by pipeline. As the refinery said previously, the use of Azerbaijani oil in the refinery has had a positive effect on the output of light oil products.


/Trend/