KIEV, Jan. 14 - Lysychansk oil refinery (LINIK, Luhansk region) could be halted due to unequal competition on the market with fuel from Russia, Belarus and Kazakhstan, the press service of Kiev-based TNK-BP Commerce Ltd. has told Interfax-Ukraine, commenting on a statement of TNK-BP CEO in Ukraine Felix Lunev in an article in the Dzerkalo Tyzhnia (Mirror Weekly) newspaper.

"I want to say openly that if the situation does not change, in the first quarter 2011 losses will [cause the] halt of Lysychansk oil refinery," he said.

He said that the start of the functioning of the Common Economic Space between Russia, Belarus and Kazakhstan could promote it, as Ukrainian oil refineries would not be able to compete with imported products and would have to stop production.