Baku, Azerbaijan, Nov.23
By Leman Zeynalova – Trend:
Baku Oil Refinery named after Heydar Aliyev will be able to start Euro 5 gasoline production presumably from early 2021, Public Relations Head at Azerbaijan’s state oil company SOCAR Ibrahim Ahmadov told Trend.
“The work on modernization of a diesel complex is expected to be completed by late 2020 and the production of Euro 5 gasoline will be possible circa from the beginning of 2021,” he added.
Ahmadov noted that modernization will make it possible to provide the domestic market with Euro 5 fuel.
“Here we first of all mean diesel fuel. The modernization will also allow to produce Euro 5 gasoline with 92-95-98 octane and other products that will be sold depending on the future market demand,” he said.
Ahmadov went on to add that given the rapidly growing fuel consumption in Azerbaijan in recent years, the major part of the refinery’s products is expected to be sold on the domestic market.
The products will fully meet the domestic demand and the remaining part will be exported, he added.
Currently, Baku Refinery is undergoing modernization, which will be completed in 2021. Following the modernization, the refinery’s capacity will increase from 6 million tons per year to 8 million tons per year, while its operational term will be extended until 2040.
The cost of modernization of the Heydar Aliyev Oil Refinery is estimated at around $2.2 billion.
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