LLK-International, a subsidiary of the Russian oil firm Lukoil, plans to invest $2.5m at the Romanian-based oil refinery Petrotel-Lukoil, according to Michael Weiss, general manager of LLK Lubricants in Eastern Europe. Upgrades will be made to the plant’s lubricants production line by the end of the year.
Weiss also said that Lukoil invested $3.5m in the refinery located in the city of Ploiesti last year. Weiss added that the company is investing in an oil-blending installation machine to make operations more efficient.
Money will also go toward additional packing equipment and storage overhaul.
