Yushchenko Orders Construction Of Refinery In Odesa

Prime Minister Yulia Tymoshenko?s idea to build an oil refinery in Odesa to process Kazakh oil has been approved by President Yushchenko. The order signed by the president on August 5 states the refinery will have a capacity of no less than 8 mln mt annually, and that output of light oil products will make up at least 95% of total production. Oil products produced by the refinery will have to meet European standards, implying that the refinery will export a portion of its oil products to Europe by sea. Investors for the project will be selected via a tender.