Problems of modernization of oil processing and oil chemicals in Russia

V. Kapustin names the ambiguity of tax policy, sanctions and import dependence to be the main problems.

CEO of VNIPI OJSC, V. Kapustin, made a report at the international scientific-practical conference “Development of deep processing of hydrocarbons in Russia”.

The change of the economic situation in the world for the past 2 years has led to serious changes in the structure of the world energy complex.

There is a growth of consumers in Asia that stimulates the development of demand for oil products.  A slight rise of liquid hydrocarbons consumption will be focused on the transportation sector of the developing countries. There are surplus capacities and the introduction of new capacities in the Middle East and Asia lead to the global surplus of oil products in the market.