BAKU, Azerbaijan, June 27
By Leman Zeynalova – Trend:
Product storage capacity of STAR Refinery will reach 2.5 million cubic meters with new investments, Murat LeCompte, Chief External Affairs Officer at SOCAR Turkey told Trend.
“We continue making additional investments to increase the operational flexibility and storage capacity of STAR Refinery. In order to increase operational flexibility and profitability, we implemented three projects that included additional storage and piping investments in 2019,” he said.
LeCompte noted that SOCAR Turkey opened the SOCAR Storage Terminal Tank Expansion Project, one of the two projects implemented in this context, in September 2019.
“We also laid the foundation of STAR Refinery Crude Oil and Oil Intermediates’ Tanks Project,” he added.
LeCompte pointed out that STAR Refinery with investment value of $6.3 billion, meets 25 percent of Turkey’s demand for refined petroleum products alone.
“Its refining capacity is 10 million tons of crude oil per year. STAR Refinery produced 3.6 million tons of diesel, 1.2 million tons of jet fuel, approximately 800,000 tons of naphtha, 200,000 tons of liquefied petroleum gas (LPG), 600,000 tons of reformat and 400,000 tons of petrocoke as of the end of 2019. The volume of crude oil refined at STAR Refinery in 2019 reached 7.1 million tons. The start of domestic sales by STAR Refinery in 2019 contributed to around $2 billion worth of import cuts to Turkey,” said LeCompte.
The opening ceremony of the Star oil refinery took place on October 19, 2018 in Izmir, Turkey.
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