Black Sea Petroleum (BSP), the owner of the Kulevi oil refinery, says it will receive a shipment of Libyan-origin crude oil between August 20 and August 30.
The company said this in a statement published on its website, outlining the steps already taken and those planned to diversify its crude oil supply.
According to the statement, under a crude oil supply agreement signed on July 3, 2026, between Black Sea Petroleum and an international trading company, the Kulevi refinery is expected to receive a cargo of Libyan-origin crude oil between August 20 and August 30. The agreement is valid through the end of 2027 and includes an option for extension.
The company also said that the Kulevi refinery began processing Kazakh-origin crude oil at the beginning of July and will continue processing the remaining volumes in August.
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 fulfills its commitment to the EU by completely replacing Russian crude oil with crude of non-Russian origin during that period.
According to Black Sea Petroleum, the six-month transition period established by the European Commission is intended to enable the replacement of Russian crude oil, and the steps already taken by BSP are fully consistent with that objective and timeline.
For more details, read: "Black Sea Petroleum: We Will Continue Feedstock Diversification and Cooperate with the European Commission."
