TODAY.AZ / Business

SOCAR boosts gasoline, diesel production in Q1 2020

22 April 2020 [15:39] - TODAY.AZ

By Azernews


By Ofeliya Afandiyeva

The output of petroleum products in Azerbaijan for the 1st quarter of 2020 increased by 9.6 percent compared to the same period last year, up to $480.9 million, local media reported citing the Azerbaijani State Statistical Committee on April 20.

According to the provided statistics, in January-March 2020, the production of gasoline amounted to 343.8 thousand tons (an increase of 13.5 percent), diesel fuel - 559.9 thousand tons (an increase of 8.6 percent), heating oil - 27.6 thousand tons (an increase of 53.3 percent), lubricating oil - 6.4 thousand tons (an increase of 30.6 percent) and bitumen - 54.6 thousand tons (an increase of 38.6 percent).

In addition, production of straight-run petrol in the reporting period decreased by 16.9 percent - to 65.5 thousand tons, kerosene - by 4.9 percent, to 146.6 thousand tons and petroleum coke - by 2.9 percent, to - 59, 4 thousand tons.

As of April 1, 2020, in the form of stocks of finished products in the Heydar Aliyev Baku Oil Refinery storages were: gasoline - 82.2 thousand tons, aviation fuel - 46.8 thousand tons, diesel fuel - 114.9 thousand tons, heating oil - 12.1 thousand tons, lubricating oil - 11.8 thousand tons, bitumen - 19.7 thousand tons and petroleum coke - 65.7 thousand tons.

As reported earlier, in the first quarter of 2020, SOCAR (State Oil Company of Azerbaijan Republic) produced 1.9 million tons of oil, 1.8 billion cubic meters of gas on the fields exploited by its own.

Despite some growth in production on the fields, operated by SOCAR, the managed decline in the country’s overall oil production continued in the first quarter of 2020.

Heydar Aliyev Baku Oil Refinery (the part of the SOCAR structure), which is Azerbaijan's only oil refinery was set up in 1953.  From the first days of its establishment, the plant became the largest and most advanced enterprise in the Azerbaijan Republic's fuel sector.

Over the course of more than 50 years, the refinery has processed more than 300 million tons of oil, added new facilities, applied state of the art technologies, and produced different kinds of petroleum products.

Presently, the refinery is processing 21 out of 24 grades of Azerbaijanian crude and 15 different petroleum products, including automotive gasoline, aviation kerosene, diesel fuel, black oil, petroleum coke, and others. The plant is meeting the republic’s entire demand for petroleum products completely. 45 percent of its petroleum products are exported.

URL: http://www.today.az/news/business/193154.html

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