MOSCOW, April 16. /TASS/. Implementation of investment agreements with Russian refineries will lead to an increase in oil refining products by 25 mln metric tons by 2028, First Deputy Energy Minister Pavel Sorokin said at the National Oil and Gas Forum.

"We are being implementing now investment agreements on the upgrade, which are to result to having a quite material addition to diesel fuel and gasoline production by 2028. We are talking now about 25 mln metric tons: 20 mln metric tons of diesel fuel and about 4 mln metric tons of gasoline on account of investment agreements on upgrading," Sorokin noted.

The country also needs to provide for predictability and stability of taxation conditions for the sector, he said.

"Certainly, we are working in cooperation with the Finance Ministry on finding the balance in budget needs and keeping the sufficient investment resource in the sector," he added.

The Russian Energy Ministry made agreements on upgrade and construction of new fuel production facilities with refineries as early as in 2021. Investments planned will amount to about 800 bln rubles ($8.5 bln).