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Russia to build oil refinery

Published January 19, 2007
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MOSCOW, Jan 18: Russian oil firm Rosneft outlined plans on Thursday for construction of a new $2 billion (1.5-billion-euro) refinery, the first such facility to be built in Russia for 25 years. “It is the only refinery on the shores of the Black Sea, which gives it a competitive advantage,” Alexander Sapronov, vice president of state-controlled Rosneft, said at a news conference in Moscow.—AFP

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