Black Sea Petroleum LLC (BSP), the owner of the Kulevi oil refinery, says it will continue implementing its crude oil supply diversification plan and maintain cooperation with the European Commission.
In a statement, published on its website, the company said implementation of its diversification strategy is already under way.
According to BSP, the Kulevi refinery began processing crude oil of Kazakh origin at the beginning of July. The company added that processing of the remaining volume will continue in August.
BSP also said that, under a crude oil supply agreement signed with an international trading company on July 3, 2026, a cargo of Libyan-origin crude oil is expected to arrive at the Kulevi refinery between August 20 and August 30. The agreement is valid through the end of 2027 and includes an option for extension.
Under the European Union's 21st package of sanctions against Russia, restrictions on the company are set to take effect after a six-month transition period unless it fully replaces Russian crude oil with crude of non-Russian origin.
"On 24 July 2026, the European Commission stated at a press briefing that BSP was in active communication with the Commission and explained that the six-month transition period was intended to allow the refinery to diversify away from Russian crude oil. The steps already taken by BSP are consistent with that objective and timeframe.
BSP will continue to implement its feedstock diversification plan, engage constructively with the European Commission and other relevant authorities, and provide clear, verifiable evidence of progress.
The Company remains committed to operating in accordance with all applicable laws and regulatory requirements, strengthening its internal governance and controls, and contributing to Georgia's economic development and energy security.
Taken together, these measures are designed to ensure a smooth transition to entirely non-Russian feedstock while maintaining continuity and stability in the refinery's operations,"- the statement reads.
