BAKU, Azerbaijan, Dec.26
By Leman Zeynalova – Trend:
The first stage of expansion of Star Refinery’s product storage capacity has been completed, said Head of the SOCAR Turkey Refinery and Petrochemicals Business Unit and General Manager of Petkim Anar Mammadov, Trend reports.
Speaking at an online press conference, Mammadov noted that the project’s first stage envisaged the construction of storages for naphtha, jet fuel and diesel.
The second stage for construction of oil and fuel oil storages will be completed in the first quarter of 2022, he said.
“This project will create a total of 342,000 cubic meters of additional storage capacity, including two oil reservoirs with capacity of 134,500 cubic meters each and two intermediate oil tanks with capacity of 36,500 cubic meters each.”
Star Refinery, with investment value of $6.3 billion came on stream in October 2018. Around $3.3 billion of the project’s cost was covered by loans. The total investment in Star Refinery is expected to stand at $7 billion.
The annual processing capacity of Star Refinery is 10 million tons. It meets around 25 percent of Turkey’s refined oil products. The refinery is able to process 214,000 barrels of crude oil per day.
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