SOCAR has completed repair of two technological installations at Azerneftyag oil refinery, which specializes in production of oil and lubricants.
SOCAR press office reported that the works were carried out on the installation No 305 for primary oil refining and installation No 401 for bitumen production.
During the repair operations pipes and water pumps were replaced at the installation No 305 and electric equipment has been inspected.
At the installation No 401 the reactor parts were cleaned from the coke, level gauges were replaced, heat exchangers were cleaned from mechanical admixtures, electric and measurement equipment were inspected and the troubles have been solved.—0--
Economics
-
Data on Azerbaijan's oil exports for January-October 2024 reveals a significant drop in both volume and value compared to the same period last year, highlighting the challenges facing the oil-dependent economy. The country exported 495,484.05 tons of oil products worth $309.02 million, a decrease of 40.3% in value and 40.7% in volume compared to 2023, when exports totaled 925,225.07 tons worth $572.21 million.
-
Azerbaijan's State Statistics Committee announced on Tuesday that the monthly statistical reporting system for retail sales and services has been revised to enhance transparency and accuracy.
-
The State Oil Company of Azerbaijan (SOCAR) is examining opportunities in geothermal energy in partnership with U.S. companies as part of Azerbaijan's efforts to advance renewable energy. SOCAR President Rovshan Najaf and John Wallace, CEO of DeGolyer and MacNaughton, met in Baku to discuss initiatives including geothermal energy projects and carbon capture, utilization, and storage (CCUS) technologies, SOCAR announced on Tuesday.
-
On Tuesday, the Turan E-Commerce and Export Forum in Baku unveiled the new "Made in Turan" trademark, marking a bold step toward uniting the economic potential of Turkic states under a single label. This initiative aims to stimulate trade and strengthen economic ties among the member states of the Organization of Turkic States (OTS).
Leave a review