He also mentioned that presently negotiations are underway with a Russian company on the possibility of building a methanol plant in Russia.
SOCAR pumped 1.5 million tons of oil via the Baku-Novorossiysk pipeline in 2017 compared to 1.3 million tons in 2016.
The Baku-Novorossiysk pipeline is 1,147 kilometers long. The length of its Azerbaijani section is 231 kilometers and Russian section is 916 kilometers long. The pipeline was filled with oil in October 1996, according to SOCAR. Its highest capacity stands at 105,000 barrels a day.
In 2018, SOCAR plans to pump about 1.5 million tons of oil, produced at onshore and offshore fields of Azerbaijan, via the Baku-Novorossiysk pipeline.
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