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Construction of the new refinery will stop rising prices of petroleum products

Construction of the new refinery will stop rising prices of petroleum products

New refinery in RussiaRussian Vice-Premier Igor Sechin offers to build a new refinery in Russia with capacity of 12 million tons. The project cost is estimated at 8 billion dollars.

In Russia no such plants built since USSR times. Usually, major oil companies only modernized the old refinery. The State will participate in the construction of new refineries for processing of Russian oil and petroleum products supply the domestic market. As experts note, such a project would reduce the growth of prices for gasoline.

The volume of processed oil in 2007 (Russia)

Oil company The volume of processing, mln tonnes
Rosneft 48,8
LUKOIL 42,5
Gazprom neft 16,5
Surgutneftegaz 19,8
Slavneft 12,7
TNK-BP 21,9
Ufa Oil Refinery 19,2
Moscow Oil Refinery 10
Other 37,2
Total 228,6