THE ROLE OF INVESTMENT FINANCING IN THE OPERATION OF A OIL REFINERY

This paper analyses the comprehensive investment framework for the restructuring of the oil refining sector in Ukraine. The purpose of the study is to identify priority areas, strategies and policies to facilitate structural transformation, increase competitiveness and promote economic growth in the sector. Methodology. The research is based on a comprehensive review of national and international literature on investment strategies in the oil refining industry. It uses a qualitative approach to analyse the critical components of an effective investment framework, including technological, financial, institutional and policy aspects. In addition, the study considers case studies and empirical evidence to validate the proposed strategies. Results. The study outlines a multifaceted approach to investment in the oil refining complex, based on a unified classification of high-tech goods and an industrial development strategy aligned with national interests. It advocates public-private partnerships and the implementation of national projects as key mechanisms for promoting industrial restructuring. Furthermore, the study emphasises the importance of reducing investment risks and optimising depreciation funds by introducing higher depreciation rates and incentives for high-tech enterprises. It recommends preferential financing tailored to the specific characteristics of the industry and structural modernisation. The research also examines alternative sources of investment, such as joint investment institutions and venture funds, and stresses the need for an enabling legal environment and investor protection. It emphasises the role of the foreign trade aspect of government policy in reducing tariffs on high-tech products and providing political and economic support for industry exports. The paper recognises the importance of regional policies in creating a favourable investment climate and advocates the establishment of industrial parks and innovation clusters tailored to regional specificities. This study provides a comprehensive investment framework to support the structural transformation of Ukraine's oil refining complex. By implementing the strategies and principles outlined here, Ukraine can facilitate economic growth, enhance its competitiveness in the global market and ensure the sustainable development of its oil refining industry.