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According to Ministry of Energy and Coal Industry, Ukrainian refineries boosted processing of crude oil up to 385,300 tons, or 42.1%, from September, the Information-Analytical Bulletin of the Cabinet of Ministers of Ukraine informs.
PJSC "Odessa Refinery" last month increased processing by 194.2%, up to 173,000 tons. And October results of PJSC "Ukrtatnafta" (Kremenchug, Poltava region) remained at the level of September at 212,300 tons.
In October 2013, oil processing at Ukrainian refineries was up 35.7% year-on-year.
To improve efficiency of internal oil market and oil-processing sector, the Ministry of Energy and Coal Industry, along with owners of Ukrainian oil refineries, is planning to coordinate the upgrade and renovation schedules by the end of 2013.
The Ministry believes that implementation of these projects will help increase the depth of crude oil processing from 76% to 95%. That will increase the Ukrainian production of light petroleum products from 63% to 80%, as well as the other petroleum products (jet fuel, propane, ethylene, bitumen, oil, etc.).
Meeting the needs of domestic market through loading Ukrainian refineries will create the conditions for revival of Ukrainian oil-refining sector, while reducing the share of imported oil products on domestic market of motor fuel and improving the industrial production in the country.
Improving the quality of domestic oil products to the European Euro5 standard will improve the competitiveness of Ukrainian oil refineries on domestic market, while increasing the volumes of crude oil processing and manufacturing oil products to meet the needs of domestic and foreign consumers.