Russian to increase oil processing depth to 92% by 2020

The depth of the oil processing at Russian refineries is expected to increase to 92% by 2020, said the Energy Minister, Alexander Novak, when he spoke at the Third International Forum on Energy Efficiency and Conservation ENES-2014.

"We managed to modernize 33 plants in the oil and gas industry with the introduction of the most advanced technologies. By 2020, the ratio of the oil processing should increase to 92%,"- said Novak.

According to the Ministry of Energy, in 2013 the depth of the oil refining grew to 71.5% from 71.2% in 2012. Novak noted that currently a number of stimulating energy efficiency measures aimed at increasing the depth of the processing were used: subsidies, tax incentives, tariff policy. It is also expected that in 2015-2016 within the current tax maneuver the depth of the processing will be significantly higher than 80%.