The company is carrying out the largest program of modernization of oil refining capacities in the Russian Federation, which is estimated at more than 1.4 trillion rubles incl. VAT, and includes more than 50 projects for the construction and reconstruction of major process plants and facilities implemented both within the framework of quadripartite agreements and own investment initiatives.

The modernization program aims to significantly increase the efficiency of oil refining, the output of light oil products, and the production of high-quality motor fuels to provide the Company’s sales channels with petroleum products that meet the requirements of Technical Regulations of the Customs Union.

After completion of some modernization projects, as well as the technical re-equipment of existing facilities in 2015, the full transition to providing the Russian market with Euro-5 motor fuels was carried out within the time frame established by the Technical Regulations.

Most of the ongoing projects of the program are in the active stage of implementation: most of the equipment has already been purchased, design work is being completed, construction and installation works are under way.

Completion of the modernization program will ensure the improvement of the food basket, increase the competitiveness and profitability of the Russian OR of the Company.