The
Volgograd Refinery commissioned an isomerization unit
with annual production capacity of 370,000 tonnes. The unit enables increase in
yields of high-octane gasolines conforming to Euro-3 and Euro-4 standards.
Economic effect (NPV) is estimated at $50 million.
At
the Perm Refinery an isomerization unit was installed and put into operation.
The unit, with annual production capacity of 450,000 tonnes, reduces purchases
of high-octane additives, increases output of high-octane motor gasoline and
reduces levels of benzol, aromatics and sulfur to conform to Euro-3 and Euro-4
standards. Economic effect (NPV) from installation of the unit is estimated at
$85 million.
The
Perm Refinery also commissioned an automated mixing station for motor gasolines
with daily capacity of 6,500 tonnes. The station enables automated production of
any grade of gasoline, thus reducing necessity for storage and, consequently,
reducing working capital, while increasing gasoline production
volumes.
Annual
refining capacity at the Perm
Refinery was increased from 12.0 to 12.4 million tonnes in 2007 thanks to
overhaul of fractionation columns on distillation units.
At
the Nizhny Novgorod Refinery the
Company completed most of the work on installation of a vacuum residue
visbreaking unit with 2.4 million tonnes annual capacity, and commissioning of
the unit is scheduled for the second quarter of 2008. Economic effect (NPV) of
the new installation is estimated at $383 million thanks to greater depth of
refining and efficiency improvements.
The first stage of modernization (from 2006 to 2010)
involves construction of catalytic cracking facilities, which will enable all
motor gasolines at the Refinery to be produced to Euro-4 standards (the Refinery
has produced gasoline to Euro-3 standards since 2006) and increase in overall
output of motor fuels by 1.5 times. Qualitative indicators of the Refinery
should be improved by 2010: Nelson index will rise to 7.4 (from3.6
in 2007), light product yields will
reach 60% (42.6% in 2007), and the share of high-octane gasoline in overall
gasoline output will reach 100% (86.6% in 2007). Annual EBITDA of the Nizhny
Novgorod Refinery should rise by $240 million (in 2007 prices) as a result of
launch of the new facilities.
At
the Ukhta Refinery the Company
commissioned a vacuum residue visbreaking unit with 800,000 tonnes annual
capacity. The unit increases refining depth, reduces output of fuel oil and
raises output of vacuum gas oil. Estimated economic effect (NPV) of the new unit
is $94 million.