OMV, the Austrian oil group that controls the biggest Romanian company - Petrom, has announced it will invest one billion euros in the Ploiesti-based refinery Petrobrazi. This investment project aims to triple the production of diesel oil. "By 2001, the Petrobrazi refinery will produce 2.1 million tonnes of diesel oil compared with the 700,000-tonne production at present," said Wolfgang Rutterstorfer, chairman and CEO of the OMV group. The production capacity of the refinery will go up from 4.5 million tonnes (69% of capacity), to 6 million tonnes, equal to 94% of capacity. The target of the investment project is to see the diesel oil production reach a third of the refinery's total production in 2011. The decision was made based on the growing consumption of diesel oil worldwide. According to OMV data, the demand for diesel oil could increase by some 27% on the European market, to 5.52 million barrels a day. By 2015, exports of products for airline use are anticipated to see a 31% increase, to a consumption rate of 1.64 million barrels a day.
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