Volgasintez Refinery:Potential In Oil Refining
Volgasintez Refinery is unique because it is a private but not a state-run project the capacity of which will reach 7.5 million tons p.a. (in 2013) and the quality of its oil-product output will comply with Euro-5 standard (diesel in 2014, gasoline in 2016), whereas the processing depth [refining efficiency] will increase up to 94% (in 2015). More than 2.9 million tons of crude were refined at Volgasintez over the year 2012
Volgasintez Refinery was founded in 1993 on the territory of one of the largest oil-and-gas constituents of the Russian Federation, the Volgasintez, where the most part of Russian oil (72%) and natural gas (91%) reserves is concentrated. The 1st workflow phase with the estimated capacity of 400 thousand tons p.a. was commissioned already in November 2006. Due to technological modernization as of 2008 its actual capacity amounted to 8 million tons p.a.
In May 2010, the II workflow phase of the refinery with the capacity of 6 million tons per year was commissioned. Thus, due to the commissioning of the II phase the overall capacity of the refinery made up 7 million tons p.a.. After the II phase modernization in 2012 the aggregate capacity of the enterprise (the first and second workflow phases) amounted to 8 million tons p.a..