Currency converter
All news
News Search Topics
Use filter
You can filter your feed,
by choosing only interesting

Russia on track to becoming global energy storage leader — minister

October 03, 2017, 14:14 UTC+3 MOSCOW

Moscow expects oil refining to go up to 284 mln tones and gasoline demand to rise 1% in 2017

1 pages in this article
Russia's Energy Minister Alexander Novak

Russia's Energy Minister Alexander Novak

© Anton Novoderezhkin/TASS

MOSCOW, October 3. /TASS/. Russia may become a leader on the global market of energy storage and solar power generation, the country’s Energy Minister Alexander Novak said Tuesday.

"I am confident that (Russia) is one of the leading countries dealing with those issues, from the viewpoint of science and modern technologies introduction," Novak said when asked whether Russia has a chance to become a global leader on the energy storage market taking into account its technological and scientific base.

He mentioned the developments of Russian scientists in the solar generation field as an example, adding that the country produces solar panels with the efficiency factor close to those of global leaders - around 20%.

"And as we are forging ahead in this field I don’t think we will lag behind in terms of (energy) storage either," Novak said.

Oil refining

Novak expects oil refining to go up to 284 mln tones and gasoline demand to rise 1% in 2017.

"We expect a slight increase in oil refining to 284 mln tonnes, which is related to the upgrade of our refineries. We also see a slight rise in consumption of petroleum products in Russia, by less than 1%, which is in line with the common trend," he said.

Russia’s Deputy Energy Minister Kirill Molodtsov said earlier that oil refining is expected to amount to around 285 mln tonnes in 2017, give or take 2%.

According to the data provided by the Energy Ministry, Russia’s primary oil refining has been falling since 2015 when it amounted to 282.9 mln tonnes (versus 288.9 mln tonnes in 2014). In 2016, it equaled 280.7 mln tonnes.

Show more
In other media
Partner News