SOCAR’s oil refinery to be commissioned by 2014

Azerbaijan, Baku, July 24 / Trend, E.Ismayilov /

SOCAR-Turcas JV plans to complete construction of a new oil refinery in Turkey by 2014, Petkim's oil refinery said. The new oil refinery will be built to provide Petkim with raw materials. The company SOCAR (State Oil Company of Azerbaijan) is also one of the owners of the Petkim petrochemical complex.

"The plant with capacity of 10 million tons per year will be put into operation in late 2014," Petkim said.

A ceremony to grant a license to SOCAR-Turcas JV to build a new refinery in Turkey was held.

Earlier, Foster Wheeler AG announced that a Global Engineering and Construction Group subsidiary received a contract from the SOCAR-TURCAS Rafineri A.S. Alliance to build a grassroots refinery at the Petkim Petrokimya A.S. facilities in Aliaga, Turkey. The contract covers the refinery's front-end engineering design, licensing and a basic design package for a delayed coker, which will use Foster Wheeler SYDECSM delayed coking technology.

The refinery will include crude and vacuum distillation units, naphtha hydrotreating, a 40,000 bpsd delayed coking unit, a 66,000 bpsd hydrocracking unit, kerosene and diesel hydrotreaters, LPG caustic treatment units, a 28,000 bpsd continuous catalytic reformer, a saturated gas unit, amine and sour water stripper, sulfur and tail gas treatment units and a 160,000 Nm3/h hydrogen unit, as well as utilities, auxiliary systems and offsite facilities.

Foster Wheeler plans to fulfill all operations on contracts by late 2010.

The new plant's capacity will be 10 million tons per year. Four million tons will be supplied to meet Petkim's raw material needs. The remaining amount, particularly diesel and jet fuel and other energy resources, will be sold on the Turkish and European markets.

In 2008, the alliance between SOCAR and Turcas Petrol / Injaz Projects has won a tender to sell 51 percent stake of chemical concern Petkim, offering $2.04 billion. Now Turkey imports 70-75 percent of the necessary chemical products. Investments of SOCAR / Turcas / Injaz to the development of Petkim will reduce imports by 30 percent.

Petkim Petrokimya Holding manufactures plastic packaging, fabric, PVC, detergents. It is the only Turkish producer of such products. The company exports a quarter of the production.

Do you have any feedback? Contact our journalist at [email protected]

Iran, Syria enjoy $1.5 billion trade capacity: Official
Iran, Syria enjoy $1.5 billion trade capacity: Official
Iran's Energy Exchange announces products to be on sale on March 2
Iran's Energy Exchange announces products to be on sale on March 2
Iran’s Bahar Azadi gold coin price rebounds
Iran’s Bahar Azadi gold coin price rebounds
Loading Bars
Latest
First vaccine against coronavirus registered in Uzbekistan
Iran, Syria enjoy $1.5 billion trade capacity: Official
More cargo from Georgia to Lithuania expected in future by Klaipeda Seaport
Azerbaijani Defense Minister, Ambassador of Belarus discuss prospects for development of military co-op
Azerbaijani FM, Uzbek ambassador exchange views on current situation in region (PHOTO)
Numerous people take part in online survey on return to Azerbaijan’s Nagorno-Karabakh region
Azerbaijani State Insurance Commerce Company talks about closure of some branches
Azerbaijan to develop new services for microfinance sector
Overdue debt increases in Georgia
Georgia sees increase in volume of deposits in lari
Georgian commercial banks see decline in lending
Azerbaijan to use Turkey's experience in restoring monuments in liberated lands (PHOTO)
Georgian farmers can now get diesel benefits online
Iran's Energy Exchange announces products to be on sale on March 2
Azerbaijani SOFAZ unveils volume of foreign currency sold at auctions during February
Presidential website releases full version of press-conference of Azerbaijani president (VIDEO)
Uzbekistan, Organization of Islamic Cooperation talk prospects of cooperation
Georgia to secure first doses of Oxford-AstraZeneca COVID-19 vaccine
Iran’s Bahar Azadi gold coin price rebounds
Statement in support of Azerbaijan's territorial integrity adopted at conference in Iran (PHOTO)
Contract signed in Iran on fish farming
Former French president Sarkozy convicted of corruption, handed jail sentence
Iran and Georgia fix problem with transit of trucks, through Azerbaijan
Azerbaijani SME Development Agency receives numerous applications for creation of businesses in liberated lands
Beekeeping to rapidly develop in liberated Azerbaijani lands - Association
Uzbekistan’s state budget expenditures mainly account for social sphere
State Insurance Organization opens tender for installation of drip irrigation system
Buta Airways Launches Flights to Tbilisi
Non-oil exports from Azerbaijan show uptick - CAERC
Russian industrial holding sells its shares in Uzbek cement enterprise
EU to propose vaccine passports in March in time for summer
Azerbaijan and Iran to build new bridge over Astarachay - Iranian ambassador
Kazakhstan resumes flights from Almaty to Kyrgyzstan
Azerbaijan confirms 71 more COVID-19 recoveries
First UAE ambassador arrives in Israel, eyes Tel Aviv embassy
China's import of Azerbaijani products grows multifold in value terms
Turkmen Health Ministry opens tender to purchase of medical equipment
Volume of fish caught in Iran's Golestan Province announced
Gasoline prices surge in Kazakhstan
Iran seeks to enhance relations between Caspian states in transport sphere - ambassador
Turkey records lower revenues from car export to Iran in Jan. 2021
Raiffeisen Bank continues to monitor Turkmenistan's business perspectives
Azerbaijan publishes data on computer security requests for February
Azerbaijan issues data on foreign trade turnover of precious stones, natural pearls
Azerbaijani army's mortar batteries continue live-fire training exercises (VİDEO)
Iran and Azerbaijan to cooperate in reconstruction of Karabakh
Georgia thanks EU for strong partnership and support
Turkey issues data on Jan. 2021 volume of crude oil shipment via local ports
New organizations registered within Azerbaijan's 'gov.az' web domain
Turkey records substantial growth in exports to Turkic-speaking countries
Weekly review of Georgian capital markets (Feb.22 through Feb.26)
Germany eyes co-op with Uzbekistan in construction of Mazar-i-Sharif – Kabul – Peshawar railway
Kazakhstan boosts imports from Vietnam
WTO to hold ministerial meeting in Geneva in late 2021
Azerbaijan plans to raise SMEs' share in non-oil GDP by 2025
Data on quality of services from Azerbaijani mobile operators issued
Uzbekistan attracts Russian experts for reconstruction of Sardoba reservoir
Turkmenistan allocates land for planting legumes in Dashoguz region
Details of release of Iranian blocked assets in South Korea
Iran to restrict sea traveling during Nowruz holiday
Payments firm Klarna triples valuation to $31 billion by raising $1 billion
Iran to increase border control
Georgia aims to import wheat from Kazakhstan
Iran reveals COVID-19 data for March 1
UK consumer credit slumped as new lockdown hit in January
Azerbaijan's SOCAR Polymer maintains leading positions on export in private sector
Saudia plans to order 70 Airbus, Boeing jets
Number of payment cards in circulation surges in Kazakhstan
Ankara hosts meeting of Joint Azerbaijan-Turkey Commission on Culture (PHOTO)
S&P names key risks for Georgian economy in 2021
OECD recommends steps to develop export-oriented agriculture sector of Georgia
Kazakhstan Railways opens tender to buy pipes
Uzbekneftegaz launches second compressor station at Alan field
Uzbek-Korean JSC announces tender for transport services
Iran plans to increase amount of airplanes flying over its territory
Iranian gov't approves a seven-year plan to save Gorgan Bay
Iran's Atomic Energy Organization talks Bushehr Nuclear Power Plant
Non-cash payments by foreigners in Azerbaijan plummet
Azerbaijan's satellite operator discloses revenues for Jan.2021
Turkish TOBB reveals number of registered Iranian companies in Jan.2021
Volume of problem loans in Azerbaijan decreases
Central Bank of Azerbaijan shares data of deposit operations of Azerbaijani commercial banks
Turkey announces coal handling figures via local ports over January 2021
Kazakhstan sees decrease in overall lending volumes
Third export train with Turkish-made goods sent to China via BTK railway
Area for growing crops increased in Turkmenistan
Iranian Parliament to review Pensions Bill
Georgia expects GDP to recover
Iran seeks to stabilise commodity prices and foreign currency rate
Iran shares data for foreign trade
Iran to adopt domestically produced equipment for National Information Network
Iranian government expresses concerns over FATF related bills
Iran provides free electricity to low consuming users
Azerbaijani president, first lady attend opening ceremony of world`s first tanker museum in Surakhani (PHOTO)
Azerbaijani president, first lady attend sail away of 'Academician Zarifa Aliyeva' ship, launch of first Ro-Pax type 'Azerbaijan' ferry boat (PHOTO)
TP Securities strike deal on setting up polypropylene production in Uzbekistan
President Aliyev inaugurates new administrative building of Azerbaijan Caspian Sea Shipping Company (PHOTO)
Guatemala President thanks India for providing Covishield vaccine doses
14 missions lined up for launch in 2021, says ISRO chairman K Sivan
Foreign countries want to implement India's NEP: Pokhriyal
All news