In the near future Austrian Poerner GmbH company will start design of a new bitumen plant at the Baku-based oil refinery named after Heydar Aliyev, reads SOCAR’s information posted on its web site.
The same source said that the negotiations have been already conducted.
“After the talks we have held a meeting with participation of representatives of SOCAR, oil refinery and Fluor and Poerner companies. In the near future German company will start design of the plant construction,” said the same source.
Construction of the bitumen plant with the capacity of 400,000 a year is a part of the project of the Heydar Aliyev oil refinery upgrade.
“After the upgrade all types of fuel produced at the oil refinery will be up to Euro-5 standard and Azerkhimiya plant will be supplied with high quality raw material (ethane-ethylene fraction, propane-propylene and butane-butylene,” said the same source.
Upgrade of the Heydar Aliyev oil refinery will be completed by the end of 2018. Capacity of the oil refinery after the upgrade will be increased from 6 to 7.5 million tons of oil a year. The cost of upgrade is estimated at $1 billion.-0—
Economics
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The 29th Conference of the Parties (COP29) to the United Nations Framework Convention on Climate Change has taken a significant step towards a unified global response to climate change. On the first day of discussions in Baku, participating countries reached a historic agreement on the rules governing the creation and trade of carbon credits. This decision paves the way for the launch of multibillion-dollar carbon credit markets, to be overseen by the United Nations, potentially as soon as next year.
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The State Oil Company of Azerbaijan (SOCAR), Albania’s Ministry of Infrastructure and Energy, and Albanian gas company Albgaz signed a memorandum of understanding (MoU) on Sunday in Baku during the 29th session of the UN Climate Change Conference (COP 29).
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The Green Energy Corridor project, aimed at delivering green energy from Azerbaijan through Georgia and the Black Sea to Romania, Hungary, and Bulgaria, has entered the investment assessment phase, according to Georgian Deputy Prime Minister and Minister of Economy and Sustainable Development, Levan Davitashvili.
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Azerbaijan’s state oil company SOCAR and Italy’s Italgas signed a cooperation agreement on Sunday during the 29th session of the United Nations Framework Convention on Climate Change (COP29), aimed at accelerating the energy transition.
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