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LUKoil's Production Set to Increase After Launch of New Volgograd Unit

Lukoil Chief Executive Officer Vagit Alekperov

VOLGOGRAD — Russia's second-biggest oil producer, LUKoil, launched on Thursday a new, six-million-ton crude distillation unit at its Volgograd refinery in the south of Russia.

The company said the plant's annual capacity would increase to 14.5 million tons after the launch. The plant is expected to process 12.5 million tons of crude this year, up from 11.5 million in 2014, and reach full capacity as early as 2016.  

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