Lukoil is shutting down fuel oil production plants due to a surplus of petroleum products. This is reported by Kommersant.
"The refinery saw a sharp decrease in the volume of fuel oil disposal and, as a result, a surplus of this fuel in the storages," reads the company's statement.
It is reported that the filling of storage facilities at low consumption rates led to the shutdown of oil refineries and reduced production of fuel. The surplus of fuel is expected to be redirected to CHP and fuel oil will be used instead of natural gas.
Lukoil owns four refineries in Russia and is the largest oil refiner in Russia after Rosneft.
