Starting from August-September this year, the company will begin… (нефть · компания · кулеви)
Starting from August-September this year, the company will begin processing only crude oil of non-Russian origin. According to the company's data, in the first half of 2026, the volume of oil processing exceeded 650 thousand tons. The total investment volume is estimated at $700 million.
Consensus
- The Black Sea Petroleum (BSP) refinery in Georgia's Kulevi port will stop using Russian crude oil starting August-September 2026
- The refinery will switch to processing only non-Russian crude oil
- This change is expected to open access to high-margin markets for BSP products
Points of divergence
- BSP reported processing about 650 thousand tons of raw material in the first half of 2026, but did not specify Russian crude oil share — vm
- BSP plans to start producing road bitumen in Q1 2027 and aviation fuel from Q2 2027 — vesti
- The refinery has two production phases with total capacity of 4.5 million tons per year, and the first phase was completed at the end of last year — interfax
- BSP previously imported Russian oil under sanctions compliance guidelines based on recommendations from British and Swiss legal firms — interfax
- In March, BSP announced plans to source crude from Turkmenistan and Kazakhstan — interfax
Coverage (3 sources)
- Georgian Oil Refinery Declines Russian Crude in August-September — Вечерняя Москва
- Georgian Nipz in Kulevi Port to Stop Processing Russian Oil — Вести
- Georgia's Kulvevi Refinery to Stop Importing Russian Oil from August/September — Интерфакс