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Russia's Lukoil expects growth in revenues from foreign refineries in 2016

February 16, 9:55 UTC+3 MOSCOW
The company's foreign refineries earned $200 mln in 2015
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MOSCOW, February 16. /TASS/. Lukoil foreign refineries earned $200 mln in 2015; the company expects the results of 2016 to be at least at the same level, the company’s Vice President Vladimir Nekrasov told journalists Monday.

"Last year foreign refineries earned about $200 mln (losses in 2014). In 2016, we expect to see results at least at the same level - in January the refineries earned $50 mln. If the current situation continues, the year the result will be even better than last year’s," he said.

According to Nekrasov, foreign processing is now working in conditions of high margin - about $7 per barrel.

He noted that in 2015, about 44.1 mln tonnes accounted for oil processing in Russia, all refineries processed 66.5 mln tonnes in total. Nekrasov added that that the plans for 2016 will depend on the situation.

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