TNK-BP To Invest USD 150 Mln In Lysychansk Refinery By 2010.

The investment will be primarily used to enhance ecological and labor safety as well as improve product quality and promote the products in both domestic and foreign markets. Lysychansk refinery plans to sell diesel and aviation oil in the EU market. LINOS (LINOS) leases the refinery’s capacities. In 2004, TNK-BP invested USD 25.7 mln in the refinery. The State Property Fund recently confirmed that TNK-BP fulfilled all investment commitments it assumed upon the privatization of Lysychansk refinery in 2000. Apart from investing into the refinery, TNK-BP will enlarge its retail network in Ukraine threefold, to 150 gas stations. Although TNK-BP?s own gas station chain in Ukraine numbers only 51 units, all stations operating under TNK-BP brand including those within franchise agreements comprise more than 1,200 units.