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SOCAR increases oil product exports in first quarter

Oil&Gas Materials 2 April 2015 17:25 (UTC +04:00)

Baku, Azerbaijan, April 2

By Maksim Tsurkov - Trend:

Azerbaijan's State Oil Company (SOCAR) exported 348,600 metric tons of oil products in the first quarter of 2015 or by 11.5 percent more than in the same period of 2014, SOCAR said April 1.

SOCAR exported 1.2 million metric tons of oil products in 2014 compared to about 1.05 million metric tons exported in 2013.

Earlier, oil products were produced at two Baku oil refineries. Both refineries belonged to SOCAR, which annually processes about seven million metric tons of oil, extracted from onshore and offshore fields with SOCAR's own funds.

SOCAR announced in December 2014 about closing the Azneftyag oil refinery and its merger with the Heydar Aliyev Baku Oil Refinery.

A significant part of Azerbaijani oil products is exported to Georgia.

Below are the figures for oil product exports:

Oil products

Jan.-March

2015, metric tons

Jan.-March

2014, metric tons

Diesel fuel

284 609

242 962

Aviation kerosene

63 811

34 943

Furnace oil

178

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Edited by CN

Follow the author on Twitter: @MaksimTsurkov

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