Please use a modern browser. This website is not designed for versions of Internet Explorer below IE10
Terminal News

Growth expected in Russian oil refining sector

Growth expected in Russian oil refining sector
The Russian oil refining sector is expected to grow in both volume and depth over the next ten years according to experts.

A Vostock Capital report on construction and modernisation projects for oil and gas processing and petrochemical facilities highlights ongoing and promising investment projects in the country.

Processing facilities with a total capacity of 100 mt are due to be commissioned before 2024 and 127 oil refining units will be revamped by 2027.

The gas processing industry is expected to increase over the next 15years with 100 – 150 billion m3 of production capacities remaining.

Some of the projects to be developed before 2030 include:

• Expansion and modernisation of Ufaorgsintez. The company plans to build a polyolefin complex by 2028, which will include a pyrolysis complex, polypropylene and polyethylene production units. Additionally an equipment retrofit of pyrolysis will increase ethylene production by 300,000 by 2020.

• The Taneco development programme will continue until 2026. It comprises the commissioning of units with higher throughput and will help expand the company's product portfolio.

• The modernisation of the Novoshakhtinsk oil production plant. Between 2020 and 2030 177 billion RUB will be invested in the plant'd development. From 2020 the plant will product 717 kTPA of Euro-5 gasoline 92 and 95 and about two mt of commercial diesel.

These projects, along with others, will be discussed at Downstream Russia 2020's annual conference and onsite visits on February 26 – 28.

For a full list of investment projects in the country click here.