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Russia approves Rosneft’s refinery and petchem project

by ChemOrbis Editorial Team -
  • 13/03/2015 (13:12)
According to market sources, the Russian government has approved the first stages of Rosneft’s plan to build a new oil refinery and petrochemical complex in the country. The first stage includes the construction of a 240,000 barrels per day (bpd) oil refinery in 2020.

The second stage, meanwhile, will reportedly include the building of a petrochemical complex which is expected to have a feedstock capacity of 3.4 million tons/year. The planned petrochemical plant is reportedly at the pre-design stage now and it is projected to be built by 2022.

Sources also stated that Rosneft’s net profit decreased 10% to 350 billion roubles ($5.7 billion) in 2014 while earnings before interest, taxes, depreciation and amortization (EBITDA) rose 11.6% to 1.06 trillion roubles ($17.2 billion) compared to the previous year. The company reported that its oil production decreased to 4.1 million bpd from 4.2 million in 2013.
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