Russia to increase capacity of its refineries to 400 million tons

Investments into Russian oil processing will make up about 1 trillion rubles ($31 billion) though until 2015, the Russian Minister of Energy Alexander Novak stated at the World energy congress in South Korea, the RBK reports.

According to him, the capacity of Russian refineries will make up about 400 million tons per year by 2020. He recalled that a large-scale program on processing capacities upgrade was started to diversify potential of the Russian FEC. The introduction of the 60/66/90 system, new technical regulations on fuel quality, differentiation of excises depending on class of fuel contributed to reconstruction of existing refineries and construction of new oil-processing capacities.