BAKU, Azerbaijan, Feb.15
By Leman Zeynalova – Trend:
STAR Oil Refinery of Azerbaijan’s state oil company SOCAR in Turkey with 10 million tons of capacity, refined 10.5 million tons of oil in 2020, Trend reports with reference to SOCAR.
The refinery sold around 10.3 million tons with 70 percent accounting for the domestic market.
Head of the SOCAR Turkey Refinery and Petrochemicals Business Unit and General Manager of Petkim Anar Mammadov said that the advanced technology of STAR Refinery, integration with Petkim petrochemical complex, advantageous digital transformation model, effective production plan and optimization processess paved the way for this sucess.
“Taking into account the lower demand for jet fuel due to the COVID-19 pandemic, we focused on diesel production thereby ensuring uninterrupted output. In particular, starting from H2 2020, we worked with production capacity exceeding 100 percent and raised oil refining volumes to 10.5 million tons,” noted Mammadov.
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