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Petrochemical accent

"Rosneft" changes the stages of construction of VNHK in some places

As Vladimir Kapustin, General Director of VNIPINeft, said at the conference "Petrochemicals of Russia and CIS - 2017", in the conditions of declining profitability of oil refining in Russia, it is planned to pay special attention to the development of petrochemical industry in the Far Eastern region. In particular, according to him, the company "Rosneft" within the framework of one of the directions of production diversification puts this direction in the priority.

Petrochemical accent
Photo: Primorskaya Gazeta,
As a reminder, Rosneft, together with China's ChemChina, will build a petrochemical complex of VNHK in Primorye on the site of the Neftekhimichesky priority development area approved in February. The total volume of capital investments is about 660 billion rubles. Earlier it was reported that the VNHK project will be implemented in two stages: first - oil refining with a capacity of 12 million tons per year for oil, and then - petrochemicals with a capacity of 3,4 million tons per year for raw materials. However, Rosneft will change the order of implementation of the project stages, focusing on the petrochemical part, said Vladimir Kapustin.

The decision was made on the grounds that oil refining is not profitable enough in the Far East. "In fact, it is even loss-making, so it was decided that this year it will be a positive decision for the whole complex of VNKhK, and to start designing and building only a petrochemical part." This does not mean that there will be no refining, it means that it will be there , But later, "- said the general director of OAO VNIPINEFT.

On the whole, according to VNIPIneft, Russian oil refining has a number of problems. First of all, the sharp drop in oil prices and the collapse of the ruble led to a reduction in capital investments in oil refining and petrochemicals. In 2015, investments amounted to 214 billion rubles, and at the end of last year - only 149 billion rubles. The slowdown in the oil refining modernization program and the postponement of commissioning of deep processing units for hydrocarbon raw materials, as well as the decline in primary oil refining have become significant factors for a number of Russian companies.

Finally, the most important aspect of the industry's representatives consider the negative consequences of implementing a large tax maneuver. Also, the deterioration in the quality of oil in the trunk pipeline system has led to an increase in the cost price of refined products and a decrease in revenues from the export of crude oil, the head of the project institute said.

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