oil · Kulevi · company (нефть · кулеви · компания)
The Georgian oil refinery in the port of Kulevi will stop importing Russian crude oil starting August-September 2026, switching to non-Russian sources. The company Black Sea Petroleum plans to expand its production and access higher-margin markets with this change.
Consensus
- The Georgian oil refinery in Kulevi will stop importing Russian crude oil starting August-September 2026
- Black Sea Petroleum (BSP) will begin processing only non-Russian crude oil from that time onward
- In the first half of 2026, BSP's refining volume exceeded 650 thousand tons
Points of divergence
- The refinery plans to start producing road bitumen in Q1 2027 and aviation fuel from Q2 2027 — vesti
- BSP has expanded partnership with Honeywell for equipment procurement and automated control systems — interfax
- The refinery is located near a terminal owned by Russian state company Gazprom Neft in Azerbaijan, which was put into operation in May 2008 — vesti
- There are two production units at the Kulevi refinery with total capacity of 4.5 million tons per year after second unit is completed — interfax
- The company previously announced that London required Georgia to impose sanctions against Russia — vesti
- In February, the EU planned to include the Kulevi terminal in a new round of sanctions against Russia but Georgian authorities insisted it does not violate sanction regime — interfax
Coverage (2 sources)
Key entities