Shell Pulls Out of Tender to Modernize Galychyna Refinery
26 January 2008
Shell Exploration Company, part of Shell Oil, has pulled out of the tender to invest in the modernization of Galychyna Refinery (HANZ) due to high operating costs and a short implementation timeline, according to the refinery. Galychyna Refinery’s current modernization plans call for USD 300-380 mln in investments. Companies still participating in the tender are the Israeli Baran Group, the Czech-American company Koch Glear and two Russian companies.
