(MENAFN- AzerNews) By Sara Israfilbayova
Azerbaijan's energy giant SOCAR has increased the depth of oil refining at the Baku Oil Refinery named after Heydar Aliyev to 90.2 percent.
Last year this indicator equaled to 89.5 percent, the article of SOCAR President Rovnag Abdullayev, published in the special issue of the newspaper Iki Sahil, reads.
"In total, over 8 months of this year, over 3.82 million tons of crude oil were processed, resulting in 783,900 tons of motor gasoline, 392,600 tons of jet fuel, 1.19 million tons of diesel fuel, 221,900 tons of furnace fuel oil, 130,600 tons of bitumen, 137,300 tons of coke, the article says.
At present, the Heydar Aliyev Baku Oil Refinery, is being modernized and the modernisation will be completed by 2020. The production capacity of the refinery will be increased from 6 million to 7.5 million tons per year as a result.
SOCAR announced the liquidation of the Azneftyag refinery and its merger with the Baku Oil Refinery named after Heydar Aliyev, in 2015. This decision was made in the framework of works to improve and optimize the structure of SOCAR.
The refinery meets Azerbaijan's entire demand for petroleum products and exports 45 percent of the products. The petroleum products processed at the plant include automotive gasoline, aviation kerosene, diesel fuel, black oil, petroleum coke, and others.
The company plans to produce high-quality oil products as part of the next stage of the reconstruction work to be carried out at the Heydar Aliyev Baku Oil Refinery. Under the program, the oil refinery will produce Euro-5 standard diesel in 2019 and the Euro 5 standard petrol in 2020.
The cost of upgrading the Baku Oil Refinery will be about $1.5-1.7 billion.
President Ilham Aliyev attended a ground breaking ceremony of a new bitumen production facility as part of reconstruction of the Heydar Aliyev Baku Oil Refinery on September 19.
Speaking at the ceremony President Aliyev saidthe project of reconstruction of the Heydar Aliyev Baku Oil Refineryhas been launched and the work to be done here will enable to createa world-class plant.
By the construction of a new bitumen production facility, the current infrastructure of former Azerneftyag oil refinery will be fully decommissioned and the coastal areas will be emptied and handed over for the realization of White City project. Furthermore running costs of Heydar Aliyev Baku Oil Refinery will be optimized and the country will be provided with high-quality bitumen.
SOCAR is wholly owned by the government of Azerbaijan. SOCAR participates in joint ventures (including ventures in Georgia and Turkey), consortia, and operating companies established with SOCAR's participation.
The company includes such production associations as Azneft (the enterprises producing oil and gas onshore and offshore), Azerikimya (the chemical enterprises) and Azerigas (distributor of gas produced in the country), as well as oil and gas processing plants, service companies, and the facilities involved in geophysical and drilling operations.
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