Rovnag Abdullayev: One of the main objectives is a development of assets

According to the President of SOCAR, growth of the oil industry, the economic resources are not an end, but a means

Baku. 5 May. REPORT.AZ/ One of the main objectives is the development of assets. Projects for the construction of the Star refinery to provide raw materials Petkim, the container terminal and will allow us to power in 2023 to turn these companies into the largest center for the petrochemical, logistics and port infrastructure not only of Turkey but also the whole region. Report informs, it was stated by President of the State Oil Company of Azerbaijan Republic (SOCAR), member of the Political Council of New Azerbaijan Party, Member of Azerbaijani Parliament, Rovnag Abdullayev said in an article published in the newspaper 'Azerbaijan'.

"Today we provide Georgia with gas by 90%. Dozens of gas distribution networks of the neighboring country are controlled by SOCAR. We control 25% of the retail sale of oil products in Georgia. The Black Sea Kulevi terminal is able to receive, store and ship tankers of 10 million. Tons of oil per year. At present, time terminal also plays an important role in the transport of oil products and crude oil in Central Asia to world markets. Established in Switzerland, the company SOCAR Trading SA, the purpose of which is to ensure sale of petroleum products to consumers on favorable terms, revenue optimization in this area and centralizing activities in the short term gained popularity in Europe and through its representative offices in Geneva, Singapore, Turkey, UAE, Nigeria and Vietnam strengthened in the markets of East and South-West Europe, North and West Africa, Southeast Asia and the Mediterranean basin. Our trading company is successfully continuing construction terminal at the port of Fujairah OAU. Already commissioned 12 tanks."

According to him, as President of Azerbaijan Ilham Aliyev, growth of the oil industry, the economic resources are not an end, but a means: "It means having great force, contributing to the continuous growth of material well-being of the Azerbaijani people. The energy strategy is a factor in national growth in all spheres of society. Income from this sector are the main source of financing for large-scale social and economic programs and projects."

Rovnag Abdullayev said that, today oil revenues are a significant source of public investment: "These revenues are constantly transformed into human capital. They also contribute to the development of non-oil sector. Conducted at the initiative and under the leadership of the President, the distinguished Ilham Aliyev large scale construction and reconstructive works show around the world that the Azerbaijani model of development is random, and is the logical result of the pledged national leader Heydar Aliyev's development strategy, which will long serve the interests of both the population and the international community."

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