Black Sea Petroleum (BSP), the owner of the Kulevi oil refinery, says the plant will begin processing crude oil of entirely non-Russian origin from August-September this year.
The company says the move is part of its strategy to diversify raw material supplies and will allow its petroleum products to enter higher-margin international markets.
BSP says it processed more than 650,000 tons of crude oil in the first half of 2026.
The company also announced it has expanded its partnership with Honeywell after signing engineering and licensing agreements. BSP says the cooperation now includes the purchase and implementation of high-tech equipment and automated control systems.
Under its development plan, the refinery is expected to begin producing road bitumen for domestic and export markets in the first quarter of 2027. The company also says it plans to add aviation fuel production capacity in the second quarter of 2027.
“Black Sea Petroleum continues to develop the plant in accordance with its strategic plan and to make a significant contribution to Georgia’s economic development,” the company said in a statement.
In March 2026, reports emerged that Georgia’s Kulevi oil terminal could be included in the European Union’s 20th package of sanctions against Russia. The European Commission’s draft proposal reportedly included restrictions on transactions involving four port terminals in Russia and third countries, including Kulevi.
The terminal was later removed from the sanctions package after the European Commission said the Georgian authorities had confirmed they would stop the re-export of oil from the Kulevi port.
The Kulevi oil refinery is owned by businesswoman and designer Maka Asatiani, the founder of Black Sea Petroleum.
The project was financed with the participation of the state-owned Development Fund of Georgia and Cartu Bank.
