SOCAR not interested in buying Total’s gas stations in Turkey (UPDATE)

Details added (first version posted on 13:54)

Baku, Azerbaijan, May 1

By Maksim Tsurkov - Trend:

The State Oil Company of Azerbaijan is not interested in buying the gas filling stations of French Total company in Turkey, SOCAR president said.

"I heard this information from the media myself. Currently, our company has no special interest in this purchase, but this issue can be considered," Rovnag Abdullayev, SOCAR president told reporters May 1.

Abdullayev added that there is a very low margin in Turkey and Total wouldn't raise the issue of selling its gas stations if there was a benefit.

"Moreover, we should firstly implement the project for construction of the STAR refinery in Turkey and ensure the fuel wholesale," SOCAR president added.

Total said Apr.24 that it intends to withdraw from Turkish market, Turkish Hurriyet newspaper reported.

Currently, SOCAR is constructing STAR refinery in Turkey and its products will be sold in this country's market.

The annual naphtha production volume, used by Petkim as the main raw material, will hit 1.66 million metric tons at the STAR refinery.

Along with naphtha, the new oil refinery will produce diesel fuel with ultra-low sulfur to the amount of 5.95 million metric tons, aviation kerosene - 500,000 metric tons, reformate - 500,000 metric tons, petroleum coke - 630,000 metric tons, liquefied gas - 240,000 metric tons, mixed xylene - 415,000 metric tons, olefin LPG - 75,000 metric tons and 145,000 metric tons of sulfur. The refinery will not produce petrol and fuel oil.

It is planned to refine Azeri Light, Kerkuk and URALS oil at the plant.

SOCAR is the sole producer of petroleum products in Azerbaijan. It has gas filling stations in Azerbaijan, Georgia, Ukraine, Romania and Switzerland.

The State Oil Company exported 1.2 million metric tons of petroleum products from Azerbaijan in 2014, compared to nearly 1.05 million metric tons in 2013.

Edited by SI

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Follow the author on Twitter: @MaksimTsurkov

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