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RUSSIA: Construction plans for proposed $5,000,000,000 oil refinery move ahead, OAO ROSNEFT OIL...

PROJECT OVERVIEW:

The local OAO ROSNEFT OIL CO. is currently considering the construction of a new oil refinery on the Pacific coast at the end of the country's planned Taichet pipeline in the East. According to Sergei Bogdanchikov, ROSNEFT Chief Executive Officer, the planned plant would have an installed production capacity of 20 million tons per year (t/y). In so doing, the refinery would treat oil from the Vankor field.

The so-called East Pipeline is due to run from Taichet in eastern Siberia to north China and eventually Nakhodka in Japan. In so doing,

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