January 31, 2011 / 10:59 AM / 8 years ago

TNK-BP says Ukraine refinery lossmaking, to shut

KIEV/MOSCOW, Jan 31 (Reuters) - Russian oil company TNK-BP TNBP.MM, half owned by British major BP (BP.L), will shut its Ukrainian refinery if Kiev does not take steps to boost margins, it said in a letter obtained by Reuters.

The letter, addressed by TNK-BP executive director German Khan to the Ukrainian president’s chief of staff, said an increase in imports, among other factors, had made the Lisichansk plant loss-making and demanded Ukraine impose import tariffs or quotas.

If the government took steps to help domestic refiners, the letter said, “the management of TNK-BP is prepared to quickly consider restarting full operations at Lisichansk Refinery, implementing its upgrade programme and increasing deliveries of oil products to ensure demand is balanced on the domestic market.” (Reporting by Pavel Polityuk in Kiev and Olesya Astakhova in Moscow; writing by Melissa Akin; editing by Vladimir Soldatkin)

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