SOCAR: Increasing quality of gasoline and diesel fuel to Euro-3 standards will not affect their cost

Production of gasoline and diesel fuel on ecological standards Euro-3  by the State Oil Company of Azerbaijan (SOCAR) will not affect the cost of these oil products in Azerbaijan, SOCAR head Rovnag Abdullayev said today.

According to him, at present fuel produced at SOCAR's oil refineries, meets Euro-2 standards. By the end of next year SOCAR intends to begin production of diesel fuel on Euro-3 standards; in 2012, gasoline produced by the company, will also meet this standard.

"By late 2011 the company will begin production of diesel fuel of Euro-3, and in 2012 - gasoline of Euro-3. There will be no price changes," Abdullayev said.

Azerbaijan has two oil refineries with total capacity of 20 million tons per year. SOCAR provides the plants with the oil extracted onshore and offshore at its own expense..

At present, the oil refining depth in the company's refineries exceeds 93%. The oil refining depth is 99 percent at the Azerneftyag refinery and 92.4 percent - the Baku Oil Refinery named after Heydar Aliyev. The figure at the Baku Oil Refinery named after Heydar Aliyev will be increased to 92.5 percent by late 2010.

In 2010, SOCAR plans to process 6.4 million tons of oil compared to 6.18 million tons in previous year. In 2009, the Baku refineries processed 6 million tons of oil.


/Trend/