BAKU, Azerbaijan, March 30
By Leman Zeynalova – Trend:
STAR Refinery of Azerbaijan’s state oil company SOCAR in Turkey is planned to reach 11 million tons of production in 2021, Trend quoted Head of the SOCAR Turkey Refinery and Petrochemicals Business Unit and General Manager of Petkim Anar Mammadov as saying.
He pointed out that Turkey’s demand for jet fuel dropped to almost zero like in all parts of the world due to travel restrictions caused by the COVID-19 pandemic.
“STAR Refinery’s technological capability allowed to fully replace jet fuel production with diesel, as a result of which the refinery’s output rose from 4.6 million tons to 6 million tons. Thereby, STAR Refinery covered 25 percent of Turkey’s diesel demand. The refinery exceeded its annual capacity in 2020 reaching 10.5 million tons and this year is expected to produce 11 million tons,” he told Turkish media.
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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