STAR Refinery Receives First Batch Of Azerbaijani Oil
STAR oil refinery in Turkey has received the first batch of crude oil for processing from Azerbaijan, SOCAR Turkey Enerji informed on August 3.
The message says that the volume of Azeri Light oil delivered to the oil refinery was 80,000 tons. Before October, when the plant is scheduled to open, oil refining will be carried out in the test mode.
Zaur Gahramanov, the head of SOCAR Turkey Enerji (the Turkish subsidiary of the Azerbaijani state oil company SOCAR), called the supply of the first batch of crude oil “an important event.”
“Every year our company is rapidly moving towards the goal of becoming the largest industrial group in Turkey. Our strategic investments will continue to strengthen the national economy and industry. Expansion of investment in foreign countries takes an important place among the trends that ensure the strategic growth of SOCAR as a company,” he said, adding that Turkey holds a special place among these countries, and SOCAR will continue to contribute to the development of the economy of both Azerbaijan and Turkey.
Mesut Ilter, Director General of STAR oil refinery, in turn, noted that the supply of the first batch of crude oil is an example of historical cooperation between the two countries.
“Our goal is to put the plant into operation as planned, as well as to contribute to the development of the economy of both Azerbaijan and Turkey. The refinery will reduce Turkey’s current account deficit by $1.5 billion a year,” he said, adding that the enterprise, in which SOCAR invested $6.3 billion, is the largest investment project in the private sector of Turkey.
STAR oil refinery will produce naphtha, diesel fuel with ultra-low sulfur content, aviation kerosene, petroleum coke, liquefied gas and other products. The refinery will not produce gasoline and fuel oil. The plant is planned to carry out processing of such oil grades as Azeri Light, Kerkuk and Urals.
Presently, the share distribution in the project is as follows: 60 percent is owned by Rafineri Holding (by 100 percent owned by SOCAR Turkey Enerji), which had previously acquired all the remaining 18.5-percent share of Turcas Petrol in the project, and 40 percent belongs to SOCAR.