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Oil Refining

LUKOIL Group integrates four refineries in Russia (in Perm, Volgograd, Nizhny Novgorod and Ukhta) along with three refineries in Europe (in Italy, Romania and Bulgaria) and has a 45% interest in a refinery in the Netherlands.

The total capacity of the Company's refineries as of late 2016 came to 82.1 mln t per year.

The Company's plants have cutting-edge conversion and reforming capacities, and produce a wide range of high quality petroleum products. In terms of the engineering properties of their production capacities and the efficiency indicators, the Russian refineries surpass the average Russian level, while the European plants of the Company are equal to their competitors and are located close to our key target markets. 

The 2016 oil refining output at the Group's refineries came to 66.06 mln t. 

* Refining depth, light petroleum product yield and Nelson Index exclude mini-refineries and include the impact of cross-supplies of commercial petroleum products between the Group’s refineries.

Russian refineries

In 2016, the throughput at Russian refineries remained flat year-on-year at 41.8 million tonnes. Following the output mix improvement driven by the duly completed upgrade program and by optimized utilization of secondary processes, the Group's Russian refineries posted strong financial results in 2016 despite the unfavorable macroeconomic environment. 

In the reporting year, light product (excluding products of mini-refineries) yield was 62.9% (2015: 58.9%). The refining depth (excluding mini-refineries) reached 84.7% (2015: 79.9%), mainly driven by the newly commissioned residue refining facility at the Perm Refinery, virtually phasing out fuel oil production. 

Capital expenditures of Russian refineries totaled RUB 28 billion in 2016, down 49% year-on-year. The decrease was due to the completion of the major upgrade program at our refineries.

Foreign refineries

In 2016, the throughput at the Group's European refineries increased by 7.4% to 24.3 million tonnes, following an increase in the capacity utilization rates driven by high refining margins, as well as the implementation of operational excellence programs. The hydrocracker of the Heavy Residue Refining Facility at the Burgas Refinery (Bulgaria) reached its design capacity, bringing the yield of light petroleum products at the Group's European refineries to 72.7% (72.1% in 2015) and the refining depth to 86.0% (84.5% in 2015).

In 2016, the capital expenditures of the Group's European refineries totaled RUB 10.1 billion, down 45.0% year-on-year.