SOCAR increases oil products export

Baku, Azerbaijan, March 3

By Elchin Ismayilov - Trend:

In January-February 2014, the State Oil Company of Azerbaijan Republic (SOCAR) exported from its own oil refineries some 222,350 tons of oil products versus 192,600 tons in January-February 2013, according to a message from SOCAR.

In 2013, SOCAR exported from its own oil refineries around 1.04 million tons of petroleum products versus over 1.24 million tons in 2012.

Oil products are produced at two Baku oil refineries with a total capacity of 16 million tons of oil per year. Both oil refineries belong to SOCAR, which annually processes approximately seven million tons of oil, extracted from onshore and offshore fields with SOCAR's own funds.

The table below shows the exported oil products:

In 2013 the volumes of gasoline production and consumption in Azerbaijan became equal, that is why the oil exports are minimized.

Translated by E.A.

Edited by C.N.