TODAY.AZ / Business

SOCAR completes integration of STAR refinery and Petkim

08 February 2019 [16:22] - TODAY.AZ

By  Trend


Turkish subsidiary of Azerbaijan’s state oil company SOCAR has completed the integration of STAR refinery and Petkim petrochemical complex, Trend reports citing SOCAR Turkey Energy.

“By selling 1.303 tons of naphtha produced at STAR refinery to Petkim, SOCAR Turkey Energy completed the integration of the refinery and the petrochemical complex. This sale has been an important step towards the integration,” said the company.

The opening ceremony of the STAR oil refinery took place on October 19, 2018 in Izmir, Turkey.

The total refining capacity of the refinery will be 10 million tons, and Azerbaijan’s state oil company SOCAR is the main supplier of crude for the refinery. The refinery will significantly reduce the dependence of Turkey on imports of petrochemical products.

The refinery worth $6.3 billion, built by SOCAR in the Aliaga District of Izmir, will produce 1.6 million tons of naphtha, 1.6 million tons of aviation fuel, 4.8 million tons of low-sulfur diesel, 700,000 tons of petroleum coke, 420,000 tons of mixed xylene and 160,000 tons of sulfur.

SOCAR is represented in Turkey by its subsidiary SOCAR Turkey Energy. So far, SOCAR Turkey Energy has invested over $14 billion in the Turkish economy. Meanwhile, 5,000 people work in the company, while the annual export potential reaches $3 billion. Among SOCAR’s current assets in Turkey are the Petkim petrochemical complex, the STAR refinery and the Petlim port.

URL: http://www.today.az/news/business/178982.html

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