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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Fitch Ratings has upgraded Azerbaijan’s long-term foreign currency issuer default rating (IDR) from “BB+” to “BBB-,” signifying an investment-grade status with a stable outlook. Despite this positive move, the agency highlighted several economic hurdles that could impact the country's progress.
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The number of overnight stays in hotels and hotel facilities in Azerbaijan surged by 35.8% in the first half of 2024 compared to the same period in 2023, reaching 1.851 million, according to the State Statistics Committee of Azerbaijan.
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Azerbaijan will unveil a unified electronic portal for real estate early next year, according to Nigar Alimova, Chairman of the Board of the State Cadastre and Real Estate Register at the State Property Service of the Ministry of Economy.
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AzerGold CJSC’s sorption leaching plant, located at the Chovdar Integrated Regional Processing Site (CHIRUP) in Dashkesan district, has commenced full-scale operations, the Ministry of Economy announced.
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