New oil refinery to be put into operation by 2025
New oil refinery in Baku’s Garadag region will be put into operation between 2023 and 2025, David Mammadov, SOCAR Vice President for Refining, who attended session of the Caspian European Integration Business Club (CEIBC), told journalists.
He said old oil refineries will be dismantled in Baku only after launching of the full complex.
At present State Oil Company of Azerbaijan (SOCAR) has two oil refineries – Azernefyag (to produce oils) and Heydar Aliyev oil refinery (to produce fuel).
* The decision to build a new petrochemical and oil refining complex was made by the government in May 2008. Several projects have been implemented since that time. The last project worth about $17 billion was worked out in 2012, which included the chemical complex, gas refinery, heat and power plant and oil refinery. The oil refinery will be built in the end. The state commission on the project under the Cabinet of Ministers was created in April 2013. Until the end of the year it must approve a final option of the project so that SOCAR would start the works since 2014. According to the initial schedule, the chemical complex must be put into operation in 2017 and the oil refinery – at the end of 2020.—0--
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- Social
- 21 November 2013 10:58
Economics
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On July 26, the Ministry of Economy hosted a meeting with entrepreneurs from the non-oil industry to explore ways to stimulate local production and enhance export potential.
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Azerbaijani internet service providers Aztelekom and Baktelekom will introduce substantial changes to their pricing structure starting August 15, the companies announced today. Under the new tariffs, the minimum internet speed will rise to 100 Mbit/s, with the cost per Mbit/s decreasing from 0.45 AZN to 0.25 AZN. As a result, monthly charges will be set at 25 AZN for 100 Mbit/s, 30 AZN for 150 Mbit/s, and 36 AZN for 250 Mbit/s.
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Azerbaijan’s Foreign Minister Jeyhun Bayramov met today with Ahmed Moallim Figi, the Minister of Foreign Affairs and International Cooperation of Somalia, at the Azerbaijani Foreign Ministry. This meeting followed a discussion held the previous day between Figi and Azerbaijan’s Economy Minister Mikail Jabbarov.
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