Rosneft took decision on re-conconceptualize the Eastern Petrochemical Company (VNHK) project in Nakhodka from petrochemical production to oil refining. As RBK (Russia media) informs referring to a source from the company Rosneft is planning to produce 1,8 million tons of gasoline and 6,3 million of tons of diesel fuel. The plant will refine about 12 million tons of crude oil annually.
To prove project feasibility and cost efficiency Rosneft Eastern Petrochemical Company (project operator) has sent the updated economic model of the project to relevant ministries and government departments. The project is still planned to be implemented in two stages with the petrochemical facilities to be built first.
The complex was initially conceptualised with a throughput capacity of 30 million tonnes per annum (mtpa). The project is being executed in two phases.
Expected to be completed not earlier than by 2026, Phase I will involve the installation of petrochemical facilities with planned thoughput capacity of 4,5 million tons of petrochemical products.
Phase II will involve the installation of crude oil refining facilities and is scheduled for completion in 2029.
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