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Oil Refining
LUKOIL
Group continued rapid development of its oil refining business in 2010 through
modernization and
expansion of refining capacities.
The volume
of refinery throughputs, including processing at third-party refineries, was
66.29 million tonnes in 2010, of which 66.18 million tonnes were refined at
Group Refineries (including Company shares of refining at the ISAB and TRN
complexes), representing an increase of 5.6% over 2009.

Russian
Refineries
Crude
oil throughput at Russian refineries in ownership of LUKOIL
Group was 45.21
million tonnes
in 2010,
which
is 1.7%
more
than in 2009.
The
share of high-octane gasoline in total output of gasoline at Group refineries in
Russia (not including
mini-refineries) rose to 91.5% in 2010 (from 89.7% in 2009). Light-product yield
was 48.5%, down slightly from the previous year due to reduction in the amount
of light fractions in refined oil and unscheduled downtime of hydrocracking
facilities at the Perm Refinery.
Foreign
Refineries
Refinery
throughputs in 2010 at LUKOIL Group’s international refineries, including the
Group share of refining at the ISAB and TRN complexes, were 20.97 million
tonnes, which is 14.9% more than in 2009, and met the Company’s business targets
based on levels of market demand. Production at Group own and third-party
refineries increased by 16.9 compared to 2009 as a result of acquisition of the
TRN refinery in September 2009. The production at our Bulgarian and Ukranian
refineries was lower due to performed overhauls.
New
catalytic cracking complex at the Nizhny
Novgorod Refinery
A
new catalytic cracking complex was brought into operation at the Nizhny Novgorod refinery in 2010,
and it is already producing Euro-4
gasoline.
It is the largest catalytic
cracking complex built in Russian for the last 25 years. Due to conversion of
vacuum gas oil into light products the complex substantially increases the
production of gasoline in the Central region. Project investments
were $975 million.
An
alkylation unit will be brought into operation at the Nizhny Novgorod Refinery
in 2011,
which will
enable
production of automotive gasoline to Euro-5
standards.
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