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Russia’s Gazprom Neft seeks to raise oil refining volumes by 6% in 2021

Gazprom Neft SIBN.MM, the oil arm of Russian gas giant Gazprom GAZP.MM, plans to increase domestic oil refining volumes this year by around 6% as a result of the upgrade of existing facilities including at the Moscow Refinery, a company senior manager said.

This will also exceed the level of pre-crisis 2019.

Mikhail Antonov, who oversees Gazprom Neft’s oil and gas refining, said in comments cleared for publication on Friday that the company continues to step up gasoline supplies to the domestic market.

The government has been concerned with an increase in the price of motor fuels, which is a sensitive issue ahead of parliamentary elections scheduled for September 17-19.

Antonov said the company has increased gasoline supplies to the domestic market by more than 40,000 tonnes in August.

He also said that the planned maintenance at the Omsk refinery in Western Siberia was postponed to the fourth quarter from September.

Gazprom Neft plans to bring on stream a new deep conversion complex at Omsk plant this year. The same is expected at the Moscow Refinery in 2025, Antonov said.

He also said that the company considers reconfiguring the catalytic cracker at Omsk refinery into production of petrochemicals.
Source: Reuters (Reporting by Olesya Astakhova; Writing by Vladimir Soldatkin; Editing by Mike Harrison)

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