BAKU, Azerbaijan, Oct. 25
By Eldar Janashvili – Trend:
The second and third stages of the modernization and reconstruction project are being carried out at Heydar Aliyev Baku Oil Refinery, which envisages a great share of the demand for fuel in Azerbaijan, Ibrahim Ahmadov, deputy head of the SOCAR Public Relations and Event Management Department, told reporters, Trend reports on Oct. 25.
The goal of the plant’s modernization is to increase export volumes, optimize operating expenses and minimize environmental risks.
Within the project, Azerbaijan also plans to produce diesel and gasoline fuel that meet Euro-5 standards in 2021 and 2022 respectively.
The work on increasing the production of oil products up to 7.5 million tons is planned to be completed in 2024-2025.
“During the current repair, the company plans to import up to 120,000 tons of AI-92 gasoline,” Ahmadov said. The growth of import is associated with an increase in fuel consumption in the country compared to the previous years.
Tariffs for the sale of fuel in Azerbaijan are quite low compared to the international market prices, therefore, import of gasoline leads to losses and SOCAR’s additional funds are spent.
Despite this, the company fulfils its task of ensuring Azerbaijan’s energy security.