Austria-based Petromax Energy Group announced a half-year launch postponement of an oil refinery it is to build in Silistra, northern Bulgaria. The company cited as reason technical check-ups it needs to perform before putting the USD 170 million facility online.

Original plans foresaw the facilitys launch in summer this year, according to the Bulgarian department of Petromax. With the amended timetable, he added, the company will begin the three-month construction period in September this year and finalise it by year-end.

The oil refinery is set to produce low-sulphur auto and jet fuel, alongside diesel fuel. It will have daily throughput of 26,000 barrels.

Petromax intends to export 80 per cent of the refinerys production.