Azerbaijan, Baku, Mar. 1 / Trend, E. Ismayilov /
SOCAR (State Oil Company of Azerbaijan) will fully meet the growing demand of the internal market for petroleum products until the commissioning of new capacities, head of SOCAR Rovnag Abdullayev told journalists.
According to him, the country's consumption of petroleum products increases annually, which in turn leads to a decline in their exports. "The increase in consumption in the country is an indicator of development," Abdullayev said.
According to the head of SOCAR, despite the increase in consumption, SOCAR's processing plants will provide the country with the necessary amount of petroleum products until the commissioning in 2020 of a new complex for processing and production of petroleum products.
Works on construction of a new complex in Azerbaijan are in progress. Various opportunities for the participation of foreign companies in this project are under consideration, Abdullayev said.
In 2012, SOCAR exported over 1.24 million tons of petroleum products from its own refineries compared to about 1.45 million tons in 2011.
Oil products are produced at two Baku refineries with a capacity of 16 million tons of oil a year. Both refineries belong to SOCAR which annually processes approximately about seven million tons of oil from its own onshore and offshore fields.
The Heydar Aliyev Oil Refinery produces light oil and Azneftyag plant - dark oil.
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