Nordic Business Report-January 24, 2007-Swedish oil refining company Preem Petroleum AB invests SEK6bn in upgrading refinery (C)1994-2007 M2 COMMUNICATIONS LTD http://www.m2.com Swedish oil refining company Preem Petroleum AB said on Wednesday (24 January) that it plans to spend SEK6bn to upgrade its refinery in Lysekil, Sweden. The upgrading of the Preemraff Lysekil refinery includes the building of a coker plant for refining heavy heating oil to lighter components for producing diesel. The investment also includes the start-up of renewable and bio-fuel production. The investment is expected to create 75 new jobs in Lysekil. Preem Petroleum, headquartered in Stockholm, is Swedens largest oil company and accounts for a third of the Nordic regions refinery capacity. The company has 1,500 employees and reported invoices sales of SEK53.4bn in 2005. One British pound (GBP) is worth approximately 13.38 Swedish kronor (SEK). ((Comments on this story may be sent to [email protected]))