Ministry of Energy: In 2014, investments into oil processing in Russia to increase by 20% to 321 billion rubles

In 2014, investments into oil processing in Russia will increase by 20% as compared with 2013 and will make up 321 billion rubles, the Ministry of Energy reports.

In 2014, the Ministry of Energy plans to include obligations on the supply of oil products to the domestic market and the creation of reserves for seasonal periods of refineries’ repair into quadrilateral agreements on the upgrade and construction of new capacities of the refineries.

The expenses of oil companies for the upgrade and construction of the new processing facilities were 269 billion rubles in 2013 (+1.51 times). 13 technological units were launched against 15 units in 2012. The Ministry of Energy expects that 15 oil processing units will be launched in 2014, including those units, which launch was postponed in 2013.

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