SOCAR oil refinery to be launched in Turkey ahead of time
SOCAR’s oil refinery will be launched in Turkey at the end of 2017, reads information posted on SOCAR’s official web site. Earlier the launching was scheduled for quarter 1, 2018.
“Launching of SOCAR’s oil refinery Star by the end of 2017 will help to reduce deficit of current operation of Turkey by as minimum $ 2.5 billion,” reads the information.
Total cost of the project is $5.7 billion, of which $3.29 billion will be borrowed. The credit agreements have been signed with 23 financial institutions on June 6, 2014 in Istanbul.
Star oil refinery will manufacture 1.66 million tons of naphtha, which is used by Petkim petrochemical complex ( in which SOCAR has its share) as the main source of raw material. In addition to naphtha, the oil refinery will manufacture 5.95 million tons of diesel fuel, 500,000 tons of aviation kerosene, 500,000 tons of reformate, 639,000 tons of oil coke, 240,000 tons of liquefied gas, 415,000 tons of mixed xylol, 75,000 tons of olefin liquefied gas and 145,000 tons sulfur. The oil refinery will not make petrol and black oil.
The plant will also refine such oil brands as Azeri Light, Kerkuk and Urals.—0—
Economics
-
Azerbaijan’s State Tax Service is grappling with technical issues on its online portal, e-taxes.gov.az, preventing the submission of mandatory social insurance and health insurance tax declarations. The problem has emerged at a critical time, as the 20-day quarterly period for submitting declarations began on October 1.
-
The INMerge Innovation Summit, organized by PASHA Holding, continued in Baku on Friday. The summit brought together leading industry leaders, startups, and investors in the fields of fintech, e-commerce, artificial intelligence, and digital business.
-
The Cabinet of Ministers of the Republic of Azerbaijan has approved a new regulation titled “Procedure for the Transfer of Regulatory Functions and Duties for Flight Safety Supervision,” aligning with the country’s obligations under international civil aviation agreements.
-
In September 2024, Azerbaijan experienced a noticeable increase in the Consumer Price Index (CPI), reflecting broader economic trends and the impact of various factors on the market. The CPI, a critical indicator of inflation, rose by 3.5% compared to the same month in 2023. This growth was driven by several components, including food and non-food products, as well as paid services provided to the population.
Müdafiə Nazirliyində nə baş verir? О чем договорились Алиев и Пашинян в Москве? - беседа с Борисом Навасардяном
News Line
-
- Social,
- 13:20
- 523
Leave a review