Turkmenistan intends to increase oil refining capacity

Oil&Gas Materials 8 April 2018 12:00 (UTC +04:00)

Ashgabat, Turkmenistan, April 8

By Huseyn Hasanov – Trend:

Projects are being developed in Turkmenistan to further increase the capacity of oil refineries in the cities of Turkmenbashi and Seydi, the Turkmen Dovlet Habarlary state new agency reported.

At a governmental meeting, Turkmenistan’s Deputy Prime Minister Maksat Babayev gave information on the ongoing work on implementation of major projects, realization of which will allow establishing the production of import-substituting products in the country and diversify the fuel and energy complex.

Reportedly, Turkmenistan’s President Gurbanguly Berdimuhamedov noted that effective use of rich natural resources that Turkmenistan possesses is an important aspect of the national economic strategy.

The Turkmen president ordered once again to carefully analyze the economic and technical aspects of the projects to be implemented in the fuel and energy sector, to intensify the work on attracting foreign investments to the industry, says the report.

Earlier, it was reported that Turkmenistan plans to bring the capacity of its refineries up to 20 million tons of oil by 2020, to 22 million tons – by 2025, to 30 million tons – by 2030. At this stage, the country annually produces about 10 million tons of oil, a significant part of which is processed at local enterprises.