Slovnaft's Modification of Oil-processing Technology Costing €200 mn

Bratislava, December 10 (TASR) - The total cost of Slovnaft refinery's modification of its oil-processing technology, which was triggered by sanctions against Russia, amounts to €200 million, and the completion of investment projects aimed at providing greater flexibility when processing alternative crude oil of different qualities is scheduled for 2027, refinery technologist Jozef Zhuzov has stated on podcast called Slovnaft Talks. The original technology design, aimed at processing heavier Russian crude oil, has not changed significantly since the refinery was built, stated Zhuzhov. New investments should therefore be focused on processing lighter crude oil, which is more readily available on the market. An initial investment in 2015 related to oil imports via the Adria pipeline was focused on developing new technologies. "What helped us even more was the investment that we made in 2020, and that was a brand new oil tank, which is the largest one we have," said Zhuzhov, adding that the new tank has significantly helped the company with processing alternative oil. It should allow the company to prepare suitable blends more flexibly. This was previously restricted by the limited number of oil tanks. Slovakia's exemption for exporting products made from Russian crude oil expired last week on December 5. An extension of this exemption is being sought at the European Union level by the Economy and the Foreign Affairs Ministries. lin/df/am