Summary sheet
The project concerns the upgrading of the Porvoo Oil Refinery at Kilpilahti. It will be directed primarily at increasing the production volume of sulphur-free diesel fuel and intermediate feeds for other refinery units.
The purpose of the project is to increase the conversion capacity of the Porvoo Refinery. Specifically it will increase the production volume of diesel with less than 10 ppm sulphur content and allow for the increased use of Russian Export Blend sour crude as an alternative to more expensive sweet crudes, such as from declining North Sea oil production.
The project will help to improve competitiveness at the refinery and will produce cleaner transport fuels, which in turn will help to reduce emissions from automotive engines. It therefore supports EU environmental policy and Europe’s Kyoto commitments.
Procurement procedures followed by the promoter are suitable for the project and satisfactory to the Bank.
Oil and gas.
Disclaimer
Before financing approval by the Board of Directors, and before loan signature, projects are under appraisal and negotiation. The information and data provided on this page are therefore indicative.
They are provided for transparency purposes only and cannot be considered to represent official EIB policy (see also the Explanatory notes).
News & Stories
General enquiries and comments
The EIB is committed to open communication and encourages constructive stakeholder input regarding its activities.
Enquiries and comments concerning the EIB’s involvement in a project or the financing facilities, activities, organisation and objectives of the EIB, can be sent to the EIB Infodesk.
Alternatively, the EIB can be contacted through its external offices.
Queries regarding details of a specific project, in particular when it is under appraisal by the EIB, should preferably be addressed directly to project promoters.
Media enquiries
Media-related enquiries can be addressed to the EIB Press Office. Please also visit our Media information section.
Complaints mechanism
Any complaint regarding alleged maladministration can be lodged via the EIB Complaints Mechanism. The European Ombudsman acts as an independent external accountability mechanism of the EIB.
Zero tolerance against fraud and corruption
The EIB has a zero tolerance policy on fraud or corruption. To report allegations of fraud and corruption relating to EIB-financed projects, please contact the Fraud and Investigation division. All complaints will be treated as strictly confidential and handled in line with the EIB investigation procedures and the Anti-Fraud Policy.
Related publications