17 June, Novopolotsk /Diana Kurilo - BELTA/. By the end of the current year, the government intends to allocate Br920 billion for the modernization of Belarus's oil refining enterprises. This was stated today by the Prime Minister of Belarus, Sergei Sidorsky, at a meeting on the utilization of production capacities and the financial and economic performance of Naftan OJSC in Novopolotsk, as reported by a BELTA correspondent. As the Prime Minister noted, approximately Br300 billion will be direct foreign investment. Currently, the quality of oil refining at Naftan OJSC and Mozyr Oil Refinery OJSC meets high European standards. However, in challenging economic conditions, work needs to be done to modernize technological processes aimed at increasing the depth of oil refining, Sergei Sidorsky noted. In January-April of the current year, over Br300 billion was allocated for the modernization of both enterprises, including Br166.8 billion for Mozyr Oil Refinery OJSC and Br136.4 billion for Naftan OJSC. According to the Prime Minister, the completion of modernization work this year will enable Mozyr Oil Refinery OJSC to produce the entire volume of diesel fuel in accordance with Euro-5 standards. At the same time, we were unable to promptly implement the plans for 2008-2009, the Prime Minister stated. In this regard, he instructed to intensify the modernization efforts at Naftan OJSC and return to the previously planned work schedules, including attracting foreign investors. -0-

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