BAKU, Azerbaijan, October 21. Fuel oil tanks were built in order to increase the crude oil storage capacity of STAR Refinery and to increase the production flexibility of the refinery, SOCAR Türkiye told Trend October 21.
“As of July, we implemented the COFOT Project, which envisages building 2 new crude oil tanks and 2 new fuel oil tanks. With this capacity expansion, we obtained a total of 200,000 cubic meters of additional crude oil storage area and 60,000 cubic meters of fuel oil storage area,” the company 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 Türkiye’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