The official unveiling of a sign to commemorate the start of construction of LUKOIL's Petroleum Residue Recycling Facility took place today in Kstovo, Nizhny Novgorod Region. The facility, based on the process of delayed coking, is located at LUKOIL's wholly owned refinery of LUKOIL-Nizhegorodnefteorgsintez. The event was attended by President of LUKOIL Vagit Alekperov, Head of the Nizhny Novgorod Region Gleb Nikitin and Acting Plenipotentiary representative of Russia's President in Volga Federal District Igor Panshin.

Apart from a delayed coker, the complex, with the total annual feed rate of 2.1 million tons, features a diesel hydrotreater, a gas fractionator, hydrogen and sulfur production units, as well as infrastructure facilities. Once the new facility is commissioned, the Nizhny Novgorod refinery will significantly reduce its production of fuel oil, increase refinery yield up to 95.5% and achieve higher synergy with the fluidized catalytic-cracking units already in operation. As a result, the yield of light petroleum products will grow from the actual 64% up to 76%.

The facility, whose commissioning is slated for 2021, will also increase tax revenues at different administrative levels and provide additional employment for over 200 people.

Vagit Alekperov and Gleb Nikitin also participated in official events on the occasion of the refinery's 60th anniversary. Eighteen employees of LUKOIL-Nizhegorodnefteorgsintez received state, industry and corporate awards.

During his business trip to Nizhny Novgorod, Mr.Alekperov also opened an exhibition "Toward Light: Russian Impressionism from Russia's Public Collections" in the city's Museum of Fine Arts. The exhibition was organized with support from the LUKOIL Charitable Foundation.

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