Azerbaijan eyes to earn $800M per year from Star refinery

By  Trend

Annual income of Azerbaijan’s economy from the Star oil refinery, being constructed by SOCAR on Aliaga Peninsula in Turkey, will exceed $600 million within the first five years after its commissioning, said SOCAR President Rovnag Abdullayev.

He made the remarks Sept. 20 in Baku at an event dedicated to the Oilmen Day.

Over the next 10 years, the annual income will exceed $800 million, according to him.

“The refinery’s construction will be completed in the second half of 2018. The refinery will primarily provide naphtha to the Petkim petrochemical complex, which aims to take up to 30 percent share of the Turkish market,” Abdullayev said.