Russia extends refinery modernization agreements to July 2027

The Russian government has extended the validity of agreements on modernizing oil refining capacity until 1 July 2027. At the same time, requirements for the quality of gasoline produced have been adjusted. The decree was signed by Prime Minister Mikhail Mishustin.

Under the document, gasoline is no longer required to meet "class 5" standards. Instead, it must have a high octane number, with a research-method rating of 92 or higher. The production and circulation of such fuel will be permitted across Russia. Changes were also made to the reporting form on fuel production plans and to the rules for concluding agreements.

The government raised the minimum investment needed to qualify for benefits from 60 billion to 100 billion rubles. The deadline for commissioning fixed assets was extended to 31 December 2026. Earlier, Deputy Prime Minister Alexander Novak said measures to support refineries were being studied and their modernization deadlines postponed. The reverse excise mechanism on oil feedstock has operated since 2018 to encourage modernization.