Update: Russia's capacity and modernization program

摘要

Since 2008, Russian regulations regarding the crude oil and refining industry have changed substantially. At present, Russia has 22 large refineries, each with an individual throughput capacity exceeding 4 million tpy (MMtpy); 8 medium-sized refineries with capacities ranging from 1 MMtpy-4 MMtpy; and over 200 small refineries. The government now requires that all Russian refineries be modernized or shut down. Such actions will involve technical and economic optimization parameters, especially for determining how to upgrade the medium- and small-sized refineries.