BAKU, Azerbaijan, Jan.24
By Leman Zeynalova – Trend:
Amid the significant decrease in jet fuel demand due to the COVID-related restrictions, SOCAR Turkey’s STAR Refinery replaced jet fuel with diesel production in a short time, Head of the SOCAR Turkey Refinery and Petrochemicals Business Unit, director general of Petkim petrochemical complex Anar Mammadov said in an exclusive interview with Trend.
It was achieved thanks to the integrated infrastructure and operation flexibility of the refinery, he explained.
“Flight restrictions are easing as the pandemic is fading away, which increases the demand for jet fuel. However, as the number of passengers in still low, the number of global flights is below the 2019 levels. The jet fuel demand will continue growing as the global economy returns to normal. We will react to this demand growth with our operation flexibility and plan our production volume in line with the changing demand,” added Mammadov.
He went on to add that the impact of COVID-19 pandemic began to ease by the end of 2021 as it was predicted.
“With the return of different sectors of economy to normal, the demand is expected to rise. It is difficult to predict when it is going to happen. We will be planning our production taking into account the developments,” Mammadov concluded.
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.
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