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Upgrade of refineries to boost gasoline output in Russia by 4 mln tons by 2028 — Deputy PM

Alexander Novak also recalled that starting from 2022, five investment agreements have been concluded with producers of petrochemical products on the creation of new and upgrade of existing facilities

MOSCOW, January 25. /TASS/. The upgrade of oil refineries in Russia, which is carried out as part of the investment agreement mechanism, will make it possible to increase the production of gasoline by 4 million tons and diesel by 30 million tons by 2028, Deputy Prime Minister Alexander Novak wrote in an article for the Energy Policy magazine.

"In order to stimulate the oil refining sector, the upgrade of refineries continues. By 2028, through the mechanism of investment agreements, 50 technological units for the production of fuel will be commissioned. As a result of the implementation of the agreements, the production of motor gasoline and diesel fuel of environmental class 5 will increase by almost 4 million tons per year and 30 million tons per year, respectively," he noted.

Novak also recalled that starting from 2022, five investment agreements have been concluded with producers of petrochemical products on the creation of new and upgrade of existing facilities. Commissioning of new capacities under these agreements from 2022 to 2027 will allow an additional investment of about 800 billion rubles ($90 mln) in petrochemicals.

As a result of this measure, the production of large-scale polymers will increase to 9.9 million tons by 2025 from 7 million tons in 2023. In addition, the share of hydrocarbons as raw materials for petrochemicals should increase from 26.2% in 2023 to 35. 2% by 2025, he added.

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Alexander Novak

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