TNK-BP plans no new oil refineries in Siberia, Russia’s Far East

Russian-British joint venture TNK-BP has no plans to build oil refineries in Eastern Siberia or the Russian Far East despite Prime Minister Vladimir Putin’s call on oil companies to build refineries in the region to reduce fuel prices, RIA Novosti quoted deputy CEO Maxim Barsky as saying on Monday.

“We have no such plans in Eastern Siberia. As for refineries, we are well represented in the central region. Our oil refinery in Khabarovsk in the Far East is being modernized, Rosneft plans to build a refinery there. I think the market will be saturated in the next five years,” Barsky said.

The government boosted gasoline export tariffs to  44 percent from May 1 to fight local shortages which started in April in some regions. Russian oil companies preferred selling gasoline abroad where prices are higher than in Russia, where the state has capped prices.

Leave a comment