Role of modernisation in petrochemistry and refining
Modernisation is the key concept for the Russian downstream nowadays. Why is this a priority for the market? What are the 'dos and don’ts' that companies need to control? And why should it happen as soon as possible?
Modernisation in Russia began with state support seven years ago, and since then the segment has made great progress. Its current phase is aimed at increasing processing depth in order to extend the list of products produced, make them more eco-friendly, and optimise the amount of crude oil needed.
When modernisation began, many Russian plants, built in the 20th Century, were in dire need. In the early 2000s, companies of the downstream segment together with government bodies developed a step-by-step modernisation strategy, and the massive equipment renovation was initiated.
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