Eric Watkins
OGJ Oil Diplomacy Editor
LOS ANGELES, Oct. 27 -- Russia and Turkey, building on earlier discussions, have moved forward with plans to construct a refinery as part of their recent agreement to jointly build the Samsun-Ceyhan pipeline.
"We carried out serious analysis work on the state of the Black Sea oil market,” said Russia’s Energy Minister Sergei Shmatko, referring to the new pipeline agreement signed by his country, Italy, and Turkey (OGJ Online, Oct. 22, 2009).
"We plan to build a major refinery and sell oil products on in the Mediterranean," Shmatko told journalists on the sidelines of a conference. He did not specify the projected capacity or any other details of the refinery project.
However, a broad protocol on oil cooperation, including Russia's participation in construction of the Samsun-Ceyhan oil pipeline, was signed during Prime Minister Vladimir Putin's visit to Ankara in August.
Under the protocol, the two sides agreed to set up a working group “aimed at analyzing the possibility of building an oil refinery and organizing the joint sales of petroleum products, including in third countries.”
Contact Eric Watkins at [email protected].
Photo from ExxonMobil Corp.
Photo from Sonangol EP.
