SOCAR intends to export petroleum products via new route
Baku, Azerbaijan, Feb. 24
By Maksim Tsurkov - Trend:
The State Oil Company of Azerbaijan (SOCAR) has decided to export its petroleum products through Russia, a source at the country's oil and gas market told Trend on Feb.24.
The source added that currently, it is unknown via which Russian ports the export will be carried out, since it depends on the buyers of petroleum products.
SOCAR exported 127,330 metric tons of petroleum products in January 2015, compared to 88,260 metric tons in January 2014.
This is while the company exported 1.2 million metric tons of petroleum products in 2014, compared to nearly 1.05 million metric tons in 2013.
Previously, Azerbaijani petroleum products were produced at two refineries in Baku. Both of these refineries were included in SOCAR which annually processes around 7 million metric tons of oil produced at onshore and offshore fields with its own funds.
SOCAR announced about liquidation of Azneftyag oil refinery and its merger with Baku Oil Refinery named after Heydar Aliyev in December 2014. The major part of Azerbaijani petroleum products is exported to Georgia.
Edited by CN
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