Formation and economic evaluation of variants of development of oil refining complex of the North-West Federal District

Abstract

The paper studies formation and economic estimation of various ways to develop the oil refining complex in the North-West Federal District of Russia. A system analysis of development prospects in the oil refining branch in the North-West Region of Russia was carried out during the research. Three basic variants to develop oil refining production using the existing refining capacities of Kirishi (the Leningrad Region) and Uhta (the Nenets Region) are proposed based on analysis of existing and forecast structures of the power balance and capacities of these refineries in the North-West. The author developed a multifactor model of economic assessment of projects in the oil refining complex. An economic estimation of alternative variants of the oil refining complex development has been made on the basis of this model and the best variant has been chosen from the innovation development point of view. This variant facilitates the development and modernization of oil and gas refining and petrochemical plants, which will create a basis for long-term sustainable economic development of the North-West Region and enhancement of the regional balance between energy generation and energy consumption in the country.