BAKU, Azerbaijan, June 10. Around 70 percent of products of STAR Refinery owned by SOCAR Türkiye are sold domestically and 30 percent are exported abroad, SOCAR Türkiye told Trend.
Talking about the oil purchases for production, the company said it buys oil from Iraq (Basra), Kazakhstan, and in general we buy every oil, which is sold at an affordable price.
“STAR Refinery is equipped with cutting edge technology, which enables it to refine all kinds of oil. It is impossible to buy one kind of oil continuously due to technological processes. For example, the plant is expected to produce 60 percent of diesel, 20 percent of naphtha, 10 percent jet kerosene and 10 percent of other products. In order to get those grades, you need to buy different types of oil. If you buy, for instance, only URALS, you will produce 70-80 percent of diesel instead of 60 percent. Azeri Light oil allows to produce more diesel and jet kerosene,” said SOCAR Türkiye.
STAR Refinery’s net sales in 2021 stood at 55.2 billion Turkish liras ($3.4 billion).
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