12th Jan 2015 14:07
LONDON (Alliance News) - Urals Energy PCL Monday announced that a fire occurred last week Friday at its Petrosak refinery, and is now "urgently" trying to replace damaged equipment and bring the plant back into operation.
In a statement, the exploration and production company, which has operations in Russia, said the fire was caused by an accident which occurred during recent bad weather conditions.
It said that no-one was injured during the incident, and while its oil field operations were not affected, the refinery is currently closed pending repairs to control equipment.
"The management of Petrosak is urgently seeking to source replacements for the damaged equipment, which was manufactured in the US, and to assess the time required to bring the plant back into operation," the company said in the statement.
The company said that the incident will not be covered by its insurance policies
Urals Energy shares were down 3.5% at 4.10 pence Monday afternoon.
By Rowena Harris-Doughty; [email protected]; @rharrisdoughty
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