BAKU, Azerbaijan, Dec.28
By Leman Zeynalova – Trend:
Star Refinery of Azerbaijan’s state oil company SOCAR in Turkey will continue significant value creation by boosting the production capacity in 2021, Trend reports referring to SOCAR Turkey’s latest data.
The other targets for 2021 are as follows:
Planning and optimization;
Crude oil logistics development;
Medium raw material supply and product sales;
Product mix and premium optimization;
Start refinancing Petkim Eurobond
Redefining STAR's loan repayment schedule
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.
Petkim is the first and the sole integrated petrochemical facility in Turkey. It is the largest exporter in the Aegean region. Petkim’s production capacity is 3.6 million tons per year. The petrochemical complex produces around 60 different types of products and exports to 78 countries. The complex meets about 20 percent of Turkey’s demand for petrochemical products.
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