Since early year over 4.4 million tons of crude oil has been refined at the complex of oil refineries in Turkmenbashi city, which is the biggest one in the country, reported Turkmenistan Ministry of Oil and Gas Industry and Mineral Resources.
“During last year the Turkmenbashi complex of oil refineries has refined over 4,409,000 tons of crude oil, the pace of production increased up to 101.9%,” reads the information.
The most significant results were achieved during production of polypropylene, gasoline and oil bitumen.
In 2012 the oil refinery has refined 6,535,000 tons of oil. In 2015 Turkmenistan plans to increase capacity of the oil refinery up to 15 million tons of oil a year, in 2020 – up to 20 million tons, in 2025 – up to 22 million tons and in 2030 – up to 30 million tons.
At the current stage the country extracts approximately 10 million tons of oil a year, significant amount of which is refined at local oil refineries.—0--
Economics
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As 2024 comes to a close, Azerbaijan finds itself at a crossroads—holding a prominent position in certain sectors of the global economy but still grappling with issues that hinder broader socioeconomic development. From energy exports to logistics corridors, the country has carved out a niche, yet cracks in its socioeconomic fabric are becoming harder to ignore. Let’s delve into the numbers and listen to expert opinions on Azerbaijan's global standing.
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Azerbaijan began the new year with significant hikes in gas, electricity, water, and medication tariffs, sparking widespread concern among citizens over the financial burden on households. While officials defend the measures as necessary for economic sustainability, critics warn of challenges tied to stagnant wages and pensions.
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As of January 1, Europe has ceased contract-based transit of Russian gas through Ukraine. Kyiv announced it would not renew agreements to traffic gas from the "aggressor nation" through its territory. The decision marks a pivotal moment in Europe’s efforts to reduce reliance on Russian energy, a dependency that supplied nearly 50% of the continent’s gas imports before the war in Ukraine.
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Azerbaijan's Tariff Council has approved a decision to regulate the maximum wholesale and retail prices of registered medicines, with the new pricing caps coming into effect on January 2, 2025.
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