Baku, Azerbaijan, Feb. 15
By Anvar Mammadov - Trend:
Azerbaijan needs to strengthen control over the lubricating oil production, said Vagif Farzaliyev, the director of the Institute of Chemistry of Additives of the Azerbaijan National Academy of Sciences.
Farzaliyev made the remarks addressing an event titled “Innovation Industry Trends in Azerbaijan: Existing Potential, Development and Prospects.”
"Earlier, 1.2 million tons of lubricating oil were produced annually in Azerbaijan. But, today there is no control in this sector, so there is a big number of artisanal products in the market," Farzaliyev said, adding that control over this sector should be strengthened.
In turn, Deputy Economy Minister Niyazi Safarov told reporters that creation of industrial zones may give impetus to the lubricating oil production.
“The creation of industrial parks and industrial zones may help the development of this industry,” he said. “Also, provision of certain benefits shouldn’t be ruled out. In Azerbaijan, the lubricating oil production has always been at a fairly good level. In the past, lubricating oils were produced by the facilities of Azerbaijan’s state oil company SOCAR, and they continue production.”
“However, there must always be competition in the market economy,” he noted. “As is known, Alco Lubricant is one of the residents of the Sumgait Chemical Industrial Park. The facility has already started operating. I believe the facility will be able to provide the country with quality products, and this will allow us to withdraw low-quality products from circulation."
Alco Lubricant produces lubricating oils. Annual production capacity of the company’s plant is 30,000 tons.
According to the State Statistical Committee of Azerbaijan, in 2017, the country produced 34,900 tons of lubricating oils, which is 3.6 times more than in 2016.