He said SOCAR has expanded the potential of the oil bitumen unit with the capacity of 250,000 metric tons.
“In connection with the work on merging two Baku refineries, we have modernized the existing unit so that it could meet the gasoline demand till 2030,” said Abdullayev.
“Nevertheless, we are going to construct another bitumen unit in order to cover the increasing fuel consumption,” the company’s president added.
After the completion of the reconstruction, the processing capacity of the refinery will increase from 6 million to 7.5 million metric tons of oil per year.
The modernization cost is estimated at $1 billion.
SOCAR announced about liquidation of Azneftyag oil refinery on January 1, 2015 and its merger with Baku Oil Refinery named after Heydar Aliyev as part of work on improving and optimization of SOCAR’s structure.
In total, over 5.31 million metric tons of petroleum products were produced in Azerbaijan in 2014, compared to 5.09 million metric tons in 2013.
SOCAR to construct new bitumen unit for Baku Oil Refinery
03 June 2015
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The State Oil Company of Azerbaijan (SOCAR) will construct a new bitumen unit for Baku Oil Refinery named after Heydar Aliyev, SOCAR President Rovnag Abdullayev told reporters June 3.
