Investment to Russian oil refining will reach 1 trillion rubles by 2015

Investment into Russian oil refining will reach 1 trillion rubles by 2015, and by 2020 the annual capacity of the Russian oil refining sector will reach 400 million tons, the Minister of Energy, A. Novak said in his report at the plenary session “Russia in focus: innovations in the energy policy and international cooperation in the conditions of transforming of the global economy” within the Global Energy Congress in the city of Daegu in South Korea.

He reminds that for the diversification of the potential of the Russian fuel and energy sector they initiated the large program for the upgrading of the refining sector. Introduction of the 60/66/90 system, the new technical regulations into fuel quality, the excise differentiation depending on the fuel class promoted the execution of reconstruction of the active oil refineries and construction of the new oil refining capacities.