BAKU, Azerbaijan, Dec.25
By Leman Zeynalova – Trend:
Star Refinery’s return to full capacity in jet fuel production depends on COVID-19, 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.
“Star Refinery significantly decreased the production of jet fuel, as the demand for this product dropped due to the pandemic. Nevertheless, the total volume of production at the refinery didn’t fall. We replaced the production of jet fuel with diesel and didn’t face any negative consequences from the commercial point of view. We saw a 7 percent decrease in diesel demand in Turkey’s market. But the market is so large that we didn’t feel this. Star Refinery produces jet fuel in small volumes. The return to the full capacity depends on the COVID-19,” he said.
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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