Gazprom Neft Open to Investment in Refining Capacity Outside of Russia

By Elena Zhuk, June 7, 2014

capacity outside of Russia at volumes of about 25 to 30 million tons of oil per year. "But the company does not need to do this at just any cost", Dyukov told journalists, noting that Gazprom Neft did not view refining abroad as a strategic goal, but at the same time as an activity not to be disregarded.

"If we really do get the opportunity to acquire refining capacity that will allow us to recover our investments and earn money, then of course we will make those investments", Dyukov said. He noted that Gazprom Neft had a strong position in refining as well as success n selling products to end consumers. He said the company had something worth offering to foreign partners. "If we have the chance, then why not? Extending the network will give us added value, increase income per barrel of oil and improve return on investments", he said.

Still, he stressed, the company's main strategic goal in refining remained improving refining effectiveness in Russia.

Copyright, Oil&Gas Eurasia, 2014.