BAKU, Azerbaijan, Jan.2
By Leman Zeynalova – Trend:
STAR Refinery of Azerbaijan’s state oil company SOCAR in Turkey processed 10.5 million tons of crude oil in 2020, exceeding the forecast volumes, Trend quoted Zaur Gahramanov, chief executive officer of SOCAR Turkey, as saying.
Gahramanov told Turkish media that the refinery exceeded its capacity thanks to its advanced technology, effective planning, optimization and its integrated structure with Petkim petrochemical complex of SOCAR.
“While jet fuel consumption fell rapidly due to the pandemic, we were able to convert our 1.6 million tons of jet fuel production to diesel thanks to our flexible production structure. The crude oil processed in 2020 exceeded the annual capacity of our refinery,” he said.
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.
---
Follow the author on Twitter: @Lyaman_Zeyn