4 Feb 2011 18:56

Rosneft to invest $2 bln in refinery modernization in 2011

MOSCOW. Feb 4 (Interfax) - Rosneft plans to invest over $2 billion in refinery modernization in 2011, company President Eduard Khudainatov said during a conference call for investors.

It spent $1.5 billion on refinery modernization last year.

This year's program will see reconstruction or construction of 30 refinery units.

The modernization should be completed by 2015 and will boost capacity to 150,000 barrels per day, raise the Nelson index to over 7 from 4 previously and increase the share of light oil products in output to 78% from 57%.

RTS$#&: ROSN