Turkish firm applies for $4.9 bln refinery license

The planned refinery at the mouth of the Baku-Tblisi-Ceyhan (BTC) oil pipeline will have the capacity to process 300,000 barrels per day. The oil export hub of Ceyhan is also the terminal for a pipeline from Iraq's Kirkuk oilfields, Reuters reports.

"We will be up against a deficit of petrol goods in Turkey in the near future with the current increase in energy demand," said CEO Erdal Celik in a statement.

Calik Energy is also building a crude pipeline from Turkey's Black Sea coast with Italy's ENI to Ceyhan.

"The integrated refinery and petrochemical complex we plan to build in Ceyhan will work along international standards, making it possible to compete on the global market," said Celik. The port is already the site of the newly inaugurated BTC oil pipeline.

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