Significant investments into modernization and process upgrading of oil refineries, gas processing plants, and petrochemical assets enable LUKOIL to constantly invest into increasing the hydrocarbon refining depth and to improve the quality of its products. Within a period as short as a decade more than 10 billion U.S. dollars has been invested into oil refining.
The Company completed construction of catalytic reforming and isomerization units, as well as a diesel fuel hydrotreater which enabled it to produce high-octane gasolines, and low-sulphur diesel fuel. New units were constructed at Ukhta, Volgograd, and Perm refineries, as well as at a major catalytic cracking facility in Nizhny Novgorod initially launched in the Soviet times. A completely revamped gas processing plant was commissioned in Perm.
LUKOIL became the first Russian oil production company to launch production of Euro 5 motor gasolines and diesel fuel. This way the Company also performs the requirements of the Program to Upgrade the Russian Refineries till 2020 within the framework of the quadrilateral agreements between the Russian Government and the country’s vertically integrated oil companies.
In future the Company is planning to invest into finding a solution to the challenge of increasing conversion rates at Russian refineries. The reconstruction program is under way and is due to be completed by 2019.