Interfax reported that Romania Rompetrol Rafinare part of The Rompetrol Group and owned by Kazakhstan national oil and Gas Company KazMunayGas has begun the final phase of a program to increase capacity at oil refinery Petromidia.

Begun in 2006, this modernization program will be completed in the first quarter of next year when facilities for soft hydro cracking, producing hydrogen and sulphur is put into operation. KazMunayGas said USD 234 million of an overall estimated cost of USD 377 million has already been invested in the project.

The company said "After modernization of the main installation is complete, the volume of Petromidia processing will have been increased from 4 million tonnes to 5 million tonnes of crude, and diesel fuel output will also increase."

All products will meet Euro-5 standards, there will be a reduction of technological losses and impact on the environment and the product cost of crude will go down with a possible full transition to Urals oil.

Mr Arman Kairdenov Rompetrol Ranfinare General Director who is quoted in the statement has said "This program contributes to achieving the company goal of moving into the twenty five biggest oil refineries in Europe by profits and operating results."

Rompetrol Rafinare also plans this year to modernize its gas-sweetening facilities convert its facilities for vacuum scrubbing and distillation into a diesel fuel sweetening installation and also build facilities for the production of nitrogen and a new flaring system.

(Sourced from Interfax)