LLK-International, a subsidiary of Russian oil firm Lukoil, plans to invest USD 2.5 million in upgrading the lubricants production at the Romanian-based oil refinery Petrotel-Lukoil by year end or early next, said Michael Weiss, general manager of LLK Lubricants in Eastern Europe, cited by Interfax newswire, according to steelguru.com.
He said that Lukoil invested last year USD 3.5 million in the refinery located in Ploiesti, some 65 km from Bucharest.
Weiss said the company is investing in an oil-blending installation to make it fully automated, in addition to packing equipment and storage overhaul.
Lukoil began this summer to produce locally a new generation of engine oils applied to lubricants that meet the standards of Euro-5 and 6 engines.
Ovidiu Posirca