SOCAR`s refinery names reasons for reduction in oil processing volumes

Baku, Azerbaijan, July 23
By Emil Ismayilov - Trend:

The Baku Oil Refinery named after Heydar Aliyev of the State Oil Company of Azerbaijan (SOCAR) has processed more than 2.788 million tons of crude oil in the first half of the year versus 2.705 million tons in January-June 2013.

Head of the refinery Elman Ismayilov made the remarks in his interview with "Iki sahil" newspaper.

Along with the crude oil, which the plant received 2.084 million tons in January-June, the refinery processes semi-finished products of "Azneftyag" plant of the "Azerkimya" production association (chemical industry enterprise), as well as natural gasoline of the Garadagh gas processing plant.

The decrease in the volume of processing is due to the reduction in the volume of oil sent for refining and overhaul held at the factory during April and May, according to Ismayilov.

In total, the plant produced oil products totaling 872.4 million AZN in the first half of the year. The plant sold 2.227 million tons of oil products some 1.528 million tons of which accounted for domestic market, and the remainder 699,100 tons for export.

SOCAR is the only producer of oil products and has two refineries on its balance sheet, which annually processes approximately seven million tons of oil extracted onshore and offshore through its own funds. One of them is the Heydar Aliyev Oil Refinery that focuses on the production of light petroleum products, and the second is Azneftyag Refinery that produces dark petroleum products. The total capacity of these two refineries is 16 million tons of oil per year. Both plants were built and commissioned in the Soviet period, and therefore required modernization and renovation.

Furthermore, SOCAR plans to build a new complex for oil and gas refining and petrochemical production to improve the ecological situation in Baku, as well as to meet growing demands for petroleum products. The complex will be established in a region 60 km away from Baku.

The official exchange rate on July 23 is 0.7843 AZN/USD.

Edited by CN

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