Ilter noted that the operation of the STAR oil refinery represents a strategic significance for the country.
He said the demand for diesel in Turkey is growing by 7-8 percent every year.
"The STAR refinery will provide Turkey with 5 million tons of diesel annually, which will contribute to the reduction of diesel import by 40 percent," Ilter said.
He also said that with the start of operation of the STAR refinery, Turkey’s demand for aviation fuel will be fully met.
The opening of the STAR oil refinery, owned by the Azerbaijani state company SOCAR, will take place in Turkey today.
The STAR refinery will produce naphtha, diesel with ultra-low sulfur content, aviation fuel, petroleum coke, liquefied gas and other products. The refinery will not produce gasoline and fuel oil.
The plant is planned to carry out processing of oil of such grades as Azeri Light, Kerkuk and Urals.
The refinery's processing capacity will be 10 million tons per year.
Today, the share distribution in the project is as follows: 60 percent of shares are owned by the Rafineri Holding (in 100-percent possession of SOCAR Turkey Energy), which previously bought all 18.5 percent of the participation interest of Turcas Petrol in the project, and 40 percent of shares are owned by SOCAR.
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