Rosneft mulls US$14 bln petrochemical plant in Far East

Russia’s biggest crude producer - OAO Rosneft, is considering plans to construct a refining complex in the Far East country at an investment outlay of $14 bln. Construction is being planned to commence in September as the oil major plans to extend an oil pipeline to the Pacific Ocean to increase sales in Asia. The facility will be able to process 20 mln tpa of crude, totaling to 400,000 bpd. Market analysis and initial engineering and design work is being completed, upon review of which the promoters will be able to decide the optimal configuration for the plant and the likely cost. Rosneft has plans to construct a refinery at the end point of the planned East Siberian Pacific Ocean pipeline (ESPO), Russia’s first eastern flowing trunk pipeline to the Pacific Rim. The link’s first phase, under construction, aims to deliver to a point near the Chinese border by the end of this year.
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