Novorossiisk Port to Invest $100M to Ship More Oil

Novorossiisk Trade Sea Port plans to spend $100 million so it can ship more oil and oil products and maintain its rank as the country’s largest crude oil port.

The Black Sea port plans to expand its crude oil pier to increase loading to 65 million tons next year, Sergei Povolokin, a spokesman at Novorossiisk, said Monday. It loaded 54.5 million tons of crude and oil products last year