Baku, Azerbaijan, Jan.16
By Emil Ismayilov - Trend:
Baku Oil Refinery named after Heydar Aliyev of SOCAR (State Oil Company of Azerbaijan) in 2014 processed about 6.33 million metric tons of oil and other raw materials, which is more than 2.4 percent more than in 2013, a source in the State Oil Company told Trend Jan.14.
The source said that about 4.74 million metric tons fell on oil, and the rest - on raw materials, which came from the Azneftyag refinery, Azerkimya Production Association and a gas processing plant of SOCAR of the total volume of raw material processed at the plant.
In 2014, Baku Oil Refinery sold 5.55 million metric tons of oil, 3.45 million metric tons of which were sold on the domestic market, and about 2.1 million metric tons were exported. The export of oil products increased by more than 35 percent in comparison with 2013 year, the source said.
In late 2014, the State Oil Company of Azerbaijan (SOCAR) announced about liquidation of Azneftyag oil refinery since January 1, 2015 and its merger with Baku Oil Refinery named after Heydar Aliyev as part of work on improving and optimization of SOCAR's structure. Azneftyag refinery is focused on the production of dark petroleum products, and in particular the bitumen, and Baku Oil Refinery named after Heydar Aliyev produces mostly light oil.
It should be noted that SOCAR has plans to modernize the Baku Oil Refinery named after Heydar Aliyev. Work on the reconstruction and modernization of the Baku Oil Refinery named after Heydar Aliyev is scheduled to be completed by late 2018 or early 2019. The plant will continue its work for yet another 15 years, till the commissioning of a new refinery in Azerbaijan within the framework of the OGPC project in 2030.
The cost of reconstruction of the refinery named after Heydar Aliyev is estimated at 1 billion AZN, and it will be financed by public funds. Work on the reconstruction will increase its capacity from 6 to 8 million metric tons per year. Also, the gasoline production capacity will be increased to 3 million metric tons per year.
Azerbaijan will produce 6.22 million metric tons of oil products in 2015 versus 6.17 million metric tons projected for 2014, according to the government's forecasts. From 2016 to 2018, the volume of oil production in the country is forecasted at 6.31 million metric tons per year.
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