At first Azerbaijan will deliver oil to the Star oil refinery in Turkey and then other sources of raw material are possible, President Ilham Aliyev told RIA Novosti during the World Economic Forum in Davos.
The ceremony of laying foundation of Star oil refinery took place in October 2011. In 2014 State Oil Fund of Azerbaijan (SOFAZ) could allocate about $285 million to build Star oil refinery in Turkey.
“We export enough oil to the Turkish ports, they have enough Azerbaijani oil. It also depends on the market: if we have another oil, we will use another oil. Right now we plan to use Azerbaijani oil. This is a good economic project for the region and for business. Turkey’s demand in oil products has been growing,” he said.
85% of Star Rafineri A.S. is owned by SOCAR Turkey Enerji A.S. (100% daughter company of SOCAR) and 18.5% by TURCAS Rafineri Yatirimlari A.S. (99.6% owned by Turcas Petrol A.S.).
Economics
-
Rashad Huseynov has been appointed as the new director of the Center for Agricultural Research under the Ministry of Agriculture, replacing Firdousi Fikretzade who led the center since 2019. Fikretzade stepped down from his position on June 10 at his own request.
-
Since July 1, bus and metro fares have increased by 10 qəpik, reaching 50 qəpik. The fare for buses on the Baku-Sumgayit route has risen from 60 qəpik to 70 qəpik. However, it is reported that there has been no improvement in service quality following the price increase. According to complaints, air conditioners are not working on buses operating in the periphery, and overcrowding persists.
-
Rovshan Najaf, President of the State Oil Company of the Republic of Azerbaijan (SOCAR), held a meeting with Bojan Kumer, Slovenia's Minister of Environment, Climate and Energy, to discuss bilateral cooperation in the energy sector.
-
Azerbaijani Energy Minister Parviz Shahbazov met with a delegation led by the World Bank's Regional Director for the South Caucasus, Roland Price, to discuss the development of cooperation in the energy sector.
Leave a review