Georgia's only oil refinery, owned by Black Sea Petroleum (BSP), will completely abandon Russian crude and switch to feedstock from Turkmenistan. Company CEO David Potskhveria stated in an interview with Business Media that this decision is linked to the European Union's ongoing ban on imports of Russian petroleum products.

Potskhveria added that the facility also plans to use oil from Kazakhstan in the future, enabling exports to EU countries. The Kulevi refinery can process up to 1.2 million tons of oil per year, with expansion potential to 4.5 million tons, and was launched in December of last year.

In March, the European Union included BSP in a preliminary sanctions list for processing Russian oil, but the company was later removed after guarantees from Georgian authorities about a complete cessation of Russian feedstock. This incident highlights the friction in Georgia's relations with the EU and attempts to reshape regional energy flows amid geopolitical pressures.

BSP's international partners include Saudi Aramco and Trafigura. The company plans to start producing Euro-5 standard gasoline, aviation fuel, and Eurodiesel in the future. These shifts are seen as a strategic move to reduce Georgia's dependence on Russia and access European markets, but concerns persist about supply stability from new sources and the economic costs of this transition.

Source: kun.uz