BAKU, Azerbaijan, Dec.25
By Leman Zeynalova – Trend:
Star Refinery of Azerbaijan’s state oil company SOCAR is Turkey is expected to process around 76 million barrels (10.3-10.5 million tons) of oil as of 2020, said Head of the SOCAR Turkey Refinery and Petrochemicals Business Unit and General Manager of Petkim Anar Mammadov, Trend reports.
He made the remarks during an online press conference.
Mammadov pointed out that the refinery processes about 20 types of crude oil. “We prefer heavy oil types. The best option for us is the Iranian crude. But for known reasons, we cannot get Iranian oil. Therefore, we use alternative oil types.”
He noted that the volume of oil processing at the refinery is forecast at 11 million tons in 2021.
The project with investment value of $6.3 billion came on stream in October 2018. Around $3.3 billion of the project’s cost was covered by loans. The total investment in Star Refinery is expected to stand at $7 billion.
The annual processing capacity of Star Refinery is 10 million tons. It meets around 25 percent of Turkey’s refined oil products. The refinery is able to process 214,000 barrels of crude oil per day.
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