BAKU, Azerbaijan, June 28. Around 847,137 tons of oil was delivered to the STAR refinery of Azerbaijan’s state oil company SOCAR in Türkiye in April 2023, as compared to 1,007,747 tons delivered in the same period in 2022, Trend reports.
As such, the oil supplies to STAR dropped by almost 16 percent, the data from the Turkish Energy Market Regulatory Authority (EPDK) shows.
SOCAR Türkiye plans to suspend the operation of the STAR Oil Refinery for maintenance in 2024. The work of the refinery will be suspended for the first time after commissioning and first of all scheduled maintenance work will be carried out. As a result of the measures taken to date, it is planned to increase the frequency of plant shutdowns from four to five years. This will save up to $40 million.
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 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.
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