This article is part of a partnership with OC Media. You can read the original English version here.
Black Sea Petroleum, which owns an oil refinery near the Kulevi terminal in Georgia, has announced that it will stop refining Russian oil starting in August–September. The announcement comes amid growing suspicion surrounding the company and accusations by critics that it is helping Russia bypass international sanctions.
The statement was published on the company’s website on 1 July. The information was later confirmed by a spokesperson for Black Sea Petroleum in a comment to OC Media.
The statement followed reports that Black Sea Petroleum and the neighboring Kulevi terminal, owned by Azerbaijan’s state oil company SOCAR, narrowly escaped being included in the EU’s 20th package of sanctions against Russia, adopted earlier this year.
In February, it was reported that the Kulevi terminal could be included in the sanctions list due to concerns that it was being used to transship Russian oil and host vessels from Russia’s “shadow fleet.” However, the European Union subsequently changed its stance after Georgian authorities and the terminal operator promised to bar EU-sanctioned vessels from Georgian ports, and to comply with the price cap on Russian oil and the ban on importing petroleum products made from Russian crude.
In its statement, Black Sea Petroleum noted that it intends to regularly inform the public about the project’s progress in order to change public perception of the company and confirm the legitimacy of its operations.
The company emphasized that starting in August or September, it will begin refining exclusively non-Russian oil. According to its estimates, this will allow it to access more profitable export markets.
Black Sea Petroleum also reported that it refined more than 650,000 tonnes of feedstock in the first half of 2026. In addition, the company expanded its cooperation with the US company Honeywell to include the supply and installation of automated control systems.
The company added that it plans to start producing road bitumen in the first quarter of 2027, and aviation fuel in the second quarter.
The statement also addresses accusations by critics who claimed that the facility’s supply chain was linked to Russian oil arriving through the Kulevi terminal, which has previously repeatedly serviced Russia-linked vessels.
Meanwhile, a Western expert speaking to OC Media on condition of anonymity stated that, in his opinion, “Russian products likely continue to flow through nearby non-sanctioned ports with rail links to Russia.”
“But I doubt we are talking about really significant volumes,” the expert noted.
Black Sea Petroleum is funded by the state-owned Georgian Development Fund, as well as Cartu Bank, founded by Bidzina Ivanishvili, the founder of the ruling Georgian Dream party.
