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Gazprom Neft’s refineries to work at peak technological capacity in 2023

Head of Gazprom Neft’s oil and gas refining department Oleg Vedernikov underscored that while maintaining the workload of the refineries, the company will be able to provide more output to the market thanks to the implemented projects for increasing efficiency and refining depth

MOSCOW, March 6. /TASS/. Gazprom Neft managed to refine a record 41 mln tons of oil in 2022, whereas this year the company’s refineries will work at peak technological capacity, providing more output even with the same amount of input, head of Gazprom Neft’s oil and gas refining department Oleg Vedernikov said in an interview with Gazprom’s in-house magazine.

"We plan that in 2023 all our refineries will work at peak technological capacity (considering scheduled maintenance), and it is important to note here that while maintaining the workload of our refineries, we will be able to provide more output to the market thanks to the implemented projects for increasing efficiency and refining depth," he said.

In 2022, the company also kept the volume of kerosene-type jet fuel production at the level of 2021, the official added. "This figure is virtually unchanged compared with 2021. During the pandemic the situation was far more challenging. However, as I said earlier, the flexibility of our production and digital planning systems allow us to modify the product basket as in real time, adapting it to current market needs," Vedernikov said.

On December 5, 2022, an embargo on maritime Russian oil shipments to the European Union came into force. G7 nations, the EU and Australia agreed on a price cap for Russian oil delivered by sea, setting the ceiling at $60 a barrel. Moreover, starting February 5, 2023, similar restrictions on deliveries of petroleum products from Russia were enforced as the EU Council officially greenlighted the decision, in conjunction with the G7, to introduce a price ceiling on Russian petroleum products supplied by sea at $100 for premium oil and at $45 for discount.