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Gazprom Neft Refineries To Boost Capasity

Gazprom Neft plans to spend $70 million on expanding its refining capacity

The chief executive of Gazprom Neft Alexander Dyukov said the company expects in the next few years to expand its annual output of refined oil products by as much as 5 million tons at its Moscow and Yaroslavl refineries.

Gazprom Neft's annual refining capacity rose more than 16 percent in the past two years to 28.5 million tons, Dyukov said. The company will also add a network of 20 stations in the Leningrad region, which surrounds St. Petersburg.

Dyukov also added that Gazprom Neft may expand its spending program because of the state support of the industry.