The Company is implementing the largest program of modernization of oil refining capacities in the Russian Federation, which is estimated at more than 1.4 trillion rubles, including VAT, and includes more than 50 projects of construction and reconstruction of major technological installations and complexes.

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.

As a result of completion of a number of modernization projects, as well as technical re-equipment of the existing facilities in 2015, a full transition to the supply of the Russian market with motor fuels of environmental class K5 was carried out within the terms established by the Technical Regulations.

Most of the ongoing projects of the program are in the active stage of implementation: the main part of the equipment has already been purchased, construction and installation works are in progress.

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.