Subject. This article discusses the efficiency of Russian oil refining complexes at the present stage of the oil industry's development. Objectives. The article aims to consider reserves to improve the efficiency of petroleum oil production in Russia and describe some aspects of the domestic oil refining complexes' efficiency improvement. Methods. For the study, I used the systems analysis, observation, comparison, generalization, and the method of hypothetico-deductive reasoning. Results. Based on an analysis of the main advantages and disadvantages of alternative ways of producing high-quality petroleum oils, the article describes the possibilities and ways of modernizing the petroleum oil production. Conclusions. The considered ways of modernizing the production of petroleum oils will help improve the economic efficiency of Russian oil refineries through reducing the technological equipment operating costs and adding to the oil refining depth.
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