Turkmenistan to modernize oil refineries

Oil&Gas Materials 16 March 2019 13:34 (UTC +04:00)

Ashgabat, Turkmenistan, Mar. 16

By Huseyn Hasanov – Trend:

Turkmenistan is developing a conceptual strategy for the development of oil refineries in the cities of Turkmenbashi and Seydi, Trend reports referring to Turkmenistan’s Vatan newspaper.

The capabilities of enterprises will be analyzed in detail in this document. Also, the optimal range of petroleum products that are in high demand in the global market will be identified.

"Proposals for improving the competitiveness of the products and forming environmentally friendly industries will also be prepared," the article says.

Turkmenistan aims to strengthen the production and export potential of petrochemical enterprises. The project was discussed at a government meeting.

President Gurbanguly Berdimuhamedov instructed to ensure an integrated approach to the development of a strategy for the development of oil refineries, including possible sources of investment, logistics, and long-term forecasts of regional and European markets for petrochemical products.

It was reported earlier that Turkmenistan plans to increase the capacity of the oil refining industry to 22 million tons by 2025 and to 30 million tons by 2030. the country The country’s annual oil production currently stands at about 10 million tons, much of which is processed at local enterprises.