Black Sea Petroleum’s Kulevi Oil Refinery has completed its transition away from Russian-origin crude oil and is now processing exclusively non-Russian feedstock, the company said in a statement.
The company’s latest statement says the arrival of Libyan crude oil with the tanker KRITI LEGEND marks the implementation of the feedstock diversification plan announced in July.
BSP’s full statement reads:
"As of 23 August, Black Sea Petroleum’s Kulevi Oil Refinery has been processing exclusively non-Russian feedstock, successfully completing its switch away from Russian-origin crude oil.
This followed a transition period during July and the first three weeks of August, when the refinery processed Kazakh crude oil alongside Russian crude oil.
On 30 August, the vessel KRITI LEGEND arrived at the Port of Kulevi with BSP’s first shipment of Libyan crude oil, a cargo of up to 90,000 tonnes supplied under the long-term agreement signed on 3 July.
Black Sea Petroleum has therefore successfully implemented the feedstock diversification plan announced on 1 and 31 July,"- reads the company statement.
On August 25, BSP confirmed to BMG that it had replaced its Russian-Origin crude oil feedstock and that, since August 23, the company had been fully processing crude oil of non-Russian origin.
Before receiving the Libyan-Origin crude oil, In July BSP began receiving and processing Kazakh-Origin crude oil, which was also reflected in Georgia’s official foreign trade statistics published by Geostat.
According to the company’s previous statement, BSP has signed a crude oil supply agreement with Libya covering the period through the end of 2027.
