Baku refinery reveals plans for gasoline production

Oil&Gas Materials 17 April 2016 11:47 (UTC +04:00)

Baku, Azerbaijan, Apr.17

By Maksim Tsurkov - Trend:

Baku Oil Refinery named after Heydar Aliyev plans to produce around 1.2 million tons of gasoline in 2016, a source in the State Oil Company of Azerbaijan (SOCAR) told Trend.

It is planned to keep the volume of gasoline production in 2016 at 2015 level, according to the source.

"The domestic demand for gasoline is growing, but currently, it is impossible to increase its production due to the technical measures as part of the plant's modernization," said the source.

Following the modernization, the refinery will be able to produce 2.2 million tons of gasoline per year, said the source, adding that this volume will meet the domestic demand over the next 15 years.

After the reconstruction, the capacity of Baku refinery will increase from 6 million tons to 7.5 million tons of oil per year.

SOCAR announced the liquidation of Azneftyag oil refinery and its merger with the Heydar Aliyev Baku Oil Refinery in January of 2015. This decision was made as part of the work to improve and optimize SOCAR's structure.

Azerbaijan produced 5.45 million tons of oil products in 2015, compared to 5.31 million tons in 2014.


Follow the author on Twitter: @MaksimTsurkov