SOCAR to meet growing demand of Azerbaijan in gasoline

Baku, Azerbaijan, Feb.6

By Emil Ismayilov - Trend:

Despite the annual increase in gasoline consumption, the available processing capacities of SOCAR (State Oil Company of Azerbaijan) will enable it to fully meet the needs of Azerbaijan in AI-92 gasoline until the completion of work on the reconstruction and modernization of the Baku Oil Refinery named after Heydar Aliyev, a source in the State Oil Company told Trend Feb.6.

Earlier, SOCAR completely stopped production of AI-95 gasoline in order to satisfy the growing needs of the republic for AI-92 gasoline. The company switched to production of AI-92 gasoline, which accounts for most of the gasoline consumed in the country. Needs of the country in 95 octane gasoline are provided by import.

"The needs of the republic AI-92 gasoline are fully satisfied, and will continue to be satisfied until the total completion of the modernization of the refinery," said the source. "This is due to the fact that refining capacities are also expanding in parallel with the growth of consumption, which is the result of work on modernization."

The source said that AI-92 gasoline accounts for about 80-90 percent of the total volume of gasoline consumed in Azerbaijan.

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.

Earlier, head of SOCAR Rovnag Abdullayev said that 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.

Earlier, oil products were produced at two Baku refineries owned by SOCAR, which annually processes approximately 7 million metric tons of oil, extracted onshore and offshore at the expense of its own funds. 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.

Edited by CN

Follow the author on Twitter: @Emilsmail

Subscribe to Trend in Google News! Subscribe
Turkmenistan’s enterprise launches filament lamps production
Turkmenistan’s enterprise launches filament lamps production
Price of Turkmen gas supplied to China grows - Wood Mackenzie
Price of Turkmen gas supplied to China grows - Wood Mackenzie
Iran eyes resuming import of Turkmen gas
Iran eyes resuming import of Turkmen gas
Loading Bars
Latest
India, US, Israel & UAE coming together to form a 2nd Quad?
Azerbaijani army starts command post exercises in Lachin district
Iranian currency rates for October 19
Iran makes investments in oil and gas fields in Ilam Province
Saipem to adopt Honeywell Forge software to create digital twin
Iberostar to purchase 10 tons of hydrogen
Uzbekistan completes construction of new airport in Sokh district
Karabakh’s rivers must be cleaned up before return of population – Azerbaijani deputy minister
Russia, Azerbaijan progressively developing co-op in agriculture – Russian ministry
Black Sea Trade and Development Bank launching new tender
India, Israel to start talks on free trade agreement next month
Baku International Sea Trade Port sees increase in cargo transshipment for 9M2021
Mexico to begin packaging Sputnik V vaccine in second half of November
Oil prices fall as weaker China growth, U.S. output stoke demand concerns
Turkmenistan’s enterprise launches filament lamps production
Germany might offer its experience in restoration of Azerbaijan’s Karabakh
Toshkent Metro to be under jurisdiction of Transport Ministry of Uzbekistan following presidential decree
Top U.S. envoy to Afghanistan stepping down
Georgia reveals TOP-10 of largest energy consumers in country
Over 70% of Iranians already received first dose of COVID-19 vaccine - Iranian President
Iran's ministry shares financial data on backing its industrial, mining enterprises (Exclusive)
COVID-19: Kazakhstan adds over 1,300 fresh cases in 24h
N.Korea fires ballistic missile as military activity surges
Algeria lifts lockdown nationwide amid drop in COVID-19 cases
Road crash kills 11 in Ecuador
Turkey summons envoys of 10 countries over Kavala statement
Gunmen kill at least 43 in northern Nigeria - state governor
Apple introduces M1 Pro, M1 Max chips
Number of COVID-2019 cases across globe exceeds 240 mln
Morocco police seize over one tonne of cocaine in Tangier port
Latvia announces four weeks of lockdown as COVID-19 cases spike
Chronicles of Victory: President Ilham Aliyev interviewed by Russian TASS news agency on October 19, 2020 (PHOTO/VIDEO)
Chronicles of Victory: October 19, 2020
Occupation Museum, Memorial Complex and adjacent Victory Park will be built in Fuzuli
Israel congratulates Azerbaijan on Independence Restoration Day
Turkish President congratulates Azerbaijan on Independence Restoration Day
Tigray forces say air strikes hit Ethiopia's Mekelle, government denies
Czech president too ill to work, politicians discuss relieving him of duties
PMs discuss Belarus-Kazakhstan economic cooperation
Pentagon chief says US values Georgia as strategic partner
Azerbaijan's flag illuminated on TV tower in Georgia due to anniversary of restoration of Azerbaijan's independence (PHOTO)
Iran unveils details of its trade turnover with Oman
Bahar Azadi gold coin price continues to fall in Iran
Iran’s Lavan Oil Refining Company reveals products on sale at IRENEX
Post Bank of Iran sees increase in revenues
Price of Turkmen gas supplied to China grows - Wood Mackenzie
Turkey's Presidential Administration congratulates Azerbaijan on Independence Restoration Day
Azerbaijan shares data on number of vaccinated citizens
Azerbaijan confirms 1,245 more COVID-19 cases, 409 recoveries
Georgia and US sign Memorandum of Understanding
Uzbekistan Railways expanding transport, logistics co-op with sea and dry ports
Azerbaijan to hold new auction for state property facilities
Saudi fast-food franchise operator Alamar Foods considers IPO
French ambassador makes statement on occasion of Azerbaijan's Independence Restoration Day
German companies interested in expanding economic co-op with Azerbaijan
EU has exported over 1 bln COVID-19 vaccines
U.S. manufacturing output declines in September
Azerbaijan issues startup certificates to more SMEs
Uzbekistan’s private airline launches flights from Tashkent to Moscow
Iran eyes resuming import of Turkmen gas
Azerbaijan's Khudafarin bridge in Jabrayil district - finally liberated (PHOTO)
Azerbaijan’s renewable energy potential exceeds installed capacity fourfold
Kazakhstan to extend food import substitution measures amid COVID-19
Ukraine has every capability to restore infrastructure of Azerbaijan’s liberated territories – MP
Playtech acquired for $3.7b
Total value of Azerbaijan's oil export abroad up in 9M2021
Georgia to further develop relationship with Azerbaijan - Georgian MFA
EU Special Representative for South Caucasus to visit Azerbaijan
Iran records decrease in production of raw steel, steel products
Weekly review of Azerbaijani precious metals market
Turkish MoD congratulates Azerbaijan with its Independence Restoration Day
Ukrainian companies may partake in construction, restoration of Azerbaijan’s Aghdam – MP
Azerbaijan's announces drastic increase in car imports for 9M2021
Pan-European Executive MBA designed specifically to integrate holistic approach to business (VIDEO)
NATO ready to support ensuring peace in South Cacasus region - special rep
Non-OPEC oil output to more than half from 2020 levels
Weekly review of Azerbaijani currency market
Iran reveals COVID-19 data for October 18
Israel and Azerbaijan are great allies and partners, who have common interest in region – former Israeli MP
European renewables generation to exceed 6,000 TWh
Over 60% of total investment to be spent on developing new oil & gas fields
Iran’s NICICO boosts extraction and production
Azerbaijan Automobile Federation organizes 'Time Attack' race (PHOTO)
Azerbaijan's foreign trade turnover increases in 9M2021
Year passes since Azerbaijan's liberation of Khudaferin bridge from Armenian occupation (PHOTO/VIDEO)
EU gas production falls by 8%
Share of renewables in EU power generation mix decreased
North Carolina declares Oct. 18 as Day of Restoration of State Independence of Azerbaijan
MUSIAD aims to raise trade turnover between Azerbaijan and Turkey (VIDEO)
EU gas consumption reaches highest level in last seven years
EIB, EU Commission ink deal on financing for alternative fuels infrastructure projects
Armenia’s failure to provide minefield maps to Azerbaijan impedes restoration work in liberated territories - FM
Azerbaijan sees no effective steps from Armenia in opening transport links - minister
Azerbaijan recommends revanchist forces not to go down wrong path - PM
TAP updates on progress in market test
Azerbaijan stands for normalizing relations with Armenia in post-conflict period based on int'l law - FM
Turkey reveals cargo traffic with Netherlands for 8M2021
Master plans for Zangilan, Gubadli, Kalbajar and Lachin being prepared, will be done without taking any loans - Azerbaijani president
Khudaferin Bridge is proof of talent of Azerbaijani people - President Ilham Aliyev (VIDEO)
Physical gas flows, nominations at TAP’s interconnections
All news