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. Last Updated: 07/27/2016

TNK-BP’s $1.3Bln Plan to Improve Refinery Fuel

TNK-BP said it would spend $1.3 billion on improving the quality of fuels produced in refineries in Russia and Ukraine over the next five years, TNK-BP said Thursday.

The company also plans to invest $400 million in new oil field development in the Yamal region. “The funds will be spent on early production activities, exploration work and construction of base infrastructure at the Suzun, Tagul and Russkoye oil fields,” it said.

TNK-BP will start pumping oil from five fields, including Suzun, Tagul and Russkoye in Siberia, in 2013 and 2014.