Anglo-Russian oil joint venture TNK-BP Ltd. (TNBP.RS) plans to spend $1.3 billion over the next five years to upgrade gasoline production at its refineries in Russia and Ukraine, the company said Thursday.
The money will be invested in upgrades of TNK-BP's refineries in the Russian cities of Ryazan and Saratov as well as its Ukrainian refinery in Lisichyansk, Didier Baudrand, executive vice president for downstream said at the launch of fuel brand TNK Pulsar.