04:28 GMT +3 hours28 November 2014
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Rosneft to Invest $18 bln in Modernization

Rosneft to Invest $18 bln in Modernization

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Rosneft will invest an additional $18 billion in the modernization of its oil refineries by 2016, company president Igor Sechin said on Saturday.

Rosneft will invest an additional $18 billion in the modernization of its oil refineries by 2016, company president Igor Sechin said on Saturday.

Total investment in the refinery modernization program is $25 billion with $7 billion provided so far this year.

Rosneft’s investment program in 2012 will be worth $15.4 billion compared to $13.2 billion last year.