SOCAR not to increase oil product exports
Azerbaijan, Baku, Sept.20 / Trend E. Ismayilov /
The State Oil Company of the Azerbaijan Republic (SOCAR) does not plan to increase its oil product exports, an inside SOCAR source told Trend today.
"The amount of exported oil products will not increase," he said. "Crude oil exports from Azerbaijan - a country with no access to oceans or seas - is more profitable than oil product exports."
According to the source, roughly 6.3 million tons of oil are exported every year for processing. He added that Azerbaijan's main market for oil sales is Georgia. The primary markets for diesel fuel are Greece and Italy. Additionally, Georgia is also the chief market for jet fuel.
Azerbaijan has two refineries with a total capacity of 20 million tons per year. SOCAR supplies oil produced at onshore and offshore fields to the refineries at its own expense.