In 2027, SOCAR will receive 434 million manats ($255 million) from the state budget's capital expenditure allocation for the reconstruction of the Heydar Aliyev Oil Refinery, as reflected in the draft law "On the State Budget of the Republic of Azerbaijan for 2027".
According to Report, this is 16 million manats ($9.4 million), or 3.5%, less than the amount allocated for 2026. Compared with the funding allocated for 2025, the figure is down by 27.5 million manats ($16.2 million), or 5.9%.
The Heydar Aliyev Oil Refinery was established on July 29, 1953, by the USSR Ministry of Oil Industry.
The refinery processes 21 of the 24 grades of crude oil and produces 15 types of products, including gasoline, aviation kerosene, diesel fuel, petroleum coke and fuel oil.