Energy Ministry hopes to see timeframe for refinery modernizations followed, some deviations expected for 2013 - Novak
MOSCOW. Oct 3 (Interfax) - Russia's Energy Minister Alexander Novak hopes that the schedule for the modernization of oil refineries is followed.
"The timeframe for modernization of refineries will be followed in 2012 with 15 units to be commissioned. There are some deviations from schedule for 2013," he said during an interview with TV channel Rossiya-24.
"This is a normal situation. We understand this completely and are tracking the schedules with the companies so that their deadlines are met," he said.
Commenting on the results of an analysis of the introduction of the 60/66 duty system, Novak said that the ministry "sees no negative instances". He added that with the application of the new system, total investment in oil production has rise by 13%. Total oil production has also gone up. Forecast investment in oil refinery this year comes to 200 billion rubles.
Oil companies are obliged to modernize refineries and have ensured these obligations in four-sided agreements with Russia's Federal Antimonopoly Service, Rostekhnadzor and Rosstandart. The agreements, for instance, set the timeframe and terms for modernization efforts. All signees should report to the government every year on the implementation of modernization programs. In return, the government has extended the timeframe for technical regulations on motor fuel.
Approval for the sale of Euro-2 standard fuels will be extended until the end of 2012, Euro-3 - until the end of 2014, and Euro-4 - until the end of 2015. In addition, regulations now do not prevent the production of Ai-92 and 80 gasolines as was earlier foreseen.
