Rosneft: major refinery modernization work won't be completed until 2017
MOSCOW. May 31 (Interfax) - Rosneft does not plan to complete the bulk of its refinery modernization program until 2017, the company said in a statement.
The program will add 7 million tonnes of refining capacity, 17.7 million tonnes of conversion process capacity, and 30 million tonnes of treatment process capacity.
Output of light oil products will increase to almost 80% from 56.7% in 2012. The Nelson complexity index will rise above 7 from 4.
Sale of Euro 2 fuel was banned in Russia at the beginning of 2013. Sale of Euro 3 gasoline and diesel fuel will be banned after December 31, 2014 and sale of Euro 4 after December 31, 2015. There is no date for banning Euro 5 fuel.
According to the Russian Energy Ministry's action plan, production of Euro 5 fuel in 2016, at the moment when sales of inferior grades is banned, will amount to no more than 60% of all fuel output. That percentage will rise to 70% in 2017 and 80% in 2018. It will only reach 98% of total output in 2020. Output of Euro 5 fuel will slowly increase in the period before 2016: it is projected to equal 25% of total output in 2013, 32% in 2014 and 47% in 2015.