MOSCOW, October 11 (Itar-Tass) - Russian President Vladimir Putin will visit the Tuapse oil refinery in Russia’s southern Krasnodar Territory on Friday, October 11. He will see how the production cycle is being modernized and will attend a ceremony of commissioning a new primary crude oil processing unit, the Kremlin press service reported.
The Tuapse oil refinery is owned by Russia’s oil major Rosneft, which said on its website that this enterprise in the only Russian oil refinery on the Black Sea coast. It refines oil produced in Russia’s West Siberian and southern regions and specializes in the production of motor fuels. The Tuapse oil refinery exports about 90 percent of its products via the Tuapse oil terminal.
The plan of modernization of the Tuapse oil refinery that was commission in 1929 provides from the construction of a new refinery without the halt of the existing production line. The plan is geared to increase the capacity from 4.5 to 12 million tonnes of oil a year and increase the oil refining efficiency from 54 to 98.5 percent to produce Euro-5-class products.
Apart from that, Putin is expected to meet with Siemens AG CEO Joe Kaeser to discuss the company’s investment projects in Russia and key cooperation areas, the press service said.
The German concern is currently implementing a number of projects in Russia. Thus, it builds high-speed trains Sapsan and Lastochka and plans to expand its presence in Russia.