SOCAR reduces export of petroleum products

Baku, Azerbaijan, Aug. 4

By Azad Hasanli - Trend:

The State Oil Company of Azerbaijan (SOCAR) exported 692,070 metric tons of petroleum products in January-July 2015, or 18.03 percent less than in the same period of 2014, SOCAR said August 4.

The company exported 1.2 million metric tons of petroleum products in 2014, compared to 1.05 million metric tons in 2013.

Previously, petroleum products in Azerbaijan 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.

However, SOCAR announced the liquidation of Azneftyag oil refinery and its merger with the Heydar Aliyev Baku Oil Refinery in December 2014.

The major part of Azerbaijani petroleum products is exported to Georgia.

Below is the summary table of exported petroleum products:

Edited by CN