Baku, Azerbaijan, June 5
By Emil Ismayilov - Trend:
The State Oil Company of Azerbaijan plans to begin production of gasoline meeting Euro-5 ecological standards at the Baku Oil Refinery named after Heydar Aliyev in 2018.
SOCAR Vice-President for Refining, David Mammadov made the remarks during the the 21st International Caspian Oil and Gas-2014 Conference in Baku
The work on the modernization of the company will be carried out within 42-48 months in order to achieve this goal, he said. The company's goal is to provide processing of 7.5 million tonnes of oil at the refinery until 2030, which in turn will provide annual production of three million tonnes of diesel fuel and 2.4 million tonnes of gasoline. This will ensure domestic demand in the country for high-quality fuel and ensure export operations in small quantities.
The depth of the processing at the SOCAR refinery exceeds 92 percent and the company currently meets the country's fuel needs.
Also, in parallel, construction of a new complex for oil and gas processing and petrochemical production is planned. It is assumed that with the completion of construction of this complex in the 2020s, both of the old refineries in the SOCAR`s balance sheet will be dismantled.
Edited by CN
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