Rosneft plans to increase oil processing

As Russia modernizes its oil refineries, Rosneft said it plans to increase the processing of oil in Russia to 57.8 million tons by 2017, which represents a 14% jump. The oil company said that 19 new installations will be built at the Samara group of refineries, eight at the Tuapse refinery, six at the Achinsk refinery, another eight at the Angara petrochemicals plant, and six at the Komsomolsk refinery. As a result of these expansion plans, output of light oil products will increase from 57% to 76%; while the production of automotive gasoline will increase from 5.7 million tons of Euro 2- and Euro 3-compliant fuel in 2011 to 9.8 million tons of Euro 5-compliant fuel in 2017. (June 16, 2012)