July 12 (Bloomberg) -- TNK-BP, the Russian oil producer half-owned by BP Plc, upgraded its Ryazan refinery to produce gasoline that meets Euro-5 environmental standards.
The refinery will produce 104,000 metric tons of the 95-octane fuel in July and increase output to 125,000 tons in the coming months, TNK-BP said today in a statement, without being more specific.
Ryazan is TNK-BP’s largest plant in Russia with a processing capacity of 341,000 barrels of crude a day, data compiled by Bloomberg show.
Russia, which links taxes on motor fuels to the their environmental impact, reduced the levy on low-sulfur Euro-5 gasoline to 5,143 rubles ($156.86) a ton from July 1 from 6,822 rubles previously.
Euro-5 gasoline has a maximum sulfur content of 10 parts per million. A lower sulfur content means less pollution.
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