Russian Navy plans to modernize five big antisubmarine shipsMilitary & Defense January 19, 8:54
North Korea builds two road-mobile intercontinental ballistic missiles — YonhapWorld January 19, 8:50
US political advisor says Trump and Putin likely to start things off on different footingWorld January 19, 8:14
Russia urges UN SC against using Iran nuclear deal in new formatsRussian Politics & Diplomacy January 19, 5:47
WSJ: Ukraine’s president hopes to meet Trump in FebruaryWorld January 19, 2:27
Diplomat reveals US spy agencies' latest attempt to recruit Russian worker was last weekRussian Politics & Diplomacy January 18, 21:57
Austria’s president-elect says he is ready to maintain good relations with RussiaWorld January 18, 21:50
Putin briefs Merkel, Hollande on steps to implement Syrian ceasefireRussian Politics & Diplomacy January 18, 20:39
Putin, Merkel, Hollande agree to give fresh impetus to Normandy Four activitiesRussian Politics & Diplomacy January 18, 20:26
MOSCOW, February 24 (Itar-Tass) —— TNK-BP decided to suspend crude oil deliveries to its refinery in Lisichansk, Ukraine, and to begin refinery repairs in March 2012, the company said on Friday.
The company said it observed a critical situation in the Ukrainian refinery sector for over a year and insisted on protective measures of the government, which would help at least preserve the operating plants.
Refinery in Ukraine remained an unprofitable business in the first quarter of this year, which had a significant influence on the general financial performance of TNK-BP. The Ukrainian government did not make decisions, which would allow local refineries to recover from the crisis. TNK-BP had $68 million losses in Ukraine in 2010; losses continued in 2011. Tolling operations stopped being attractive in the end of last year as Russia introduced new tax norms and made amendments concerning the Russian petroleum product market. The situation will hardly change soon.
Nevertheless, TNK-BP continues to fulfill petroleum delivery contracts.
The Lisichansk refinery will keep working until a final decision concerning the company policy on the Ukrainian market is made. The decision will depend exclusively on the company’s internal regulations.