BAKU, Azerbaijan, April 8. Top 5 importers of products of STAR Oil Refinery of Azerbaijan’s state oil company SOCAR in Turkey are Greece, Libya, Italy, Belgium and the Netherlands, Trend reports with reference to SOCAR.
Reportedly, the refinery saw a 44 percent increase in revenues in 2021 as compared to 2020. Its revenues stood at $6.14 billion as of 2021 with 64 percent accounting for the domestic market and 36 percent accounting for exports.
STAR holds 17.5 percent, 12.6 percent and 5.1 percent share in Turkey’s diesel, jet fuel and LPG markets, respectively.
Being the most digitalized refinery in Turkey, STAR created $3.4 million added value from digitalization in 2020. No figures are available for 2021.
STAR Refinery, 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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