Elchin Ibadov: STAR Refinery meets 25% of Türkiye's demand for oil products

The oil products produced at the STAR Refinery built by the State Oil Company of Azerbaijan (SOCAR) on the Aliaga Peninsula of Izmir meet approximately 25% of Türkiye's demand, the CEO of SOCAR Türkiye, SOCAR's subsidiary in Türkiye, Elchin Ibadov, said, Report informs.

According to him, today, the STAR refinery produces 11 million tons of crude oil and refined products: "This meets about 25% of Türkiye's need for oil products.”

According to Ibadov, this is not enough: “But we are proud to contribute nearly $1 billion to Türkiye's current account deficit every year as we significantly reduce the market's external dependence.”

Ibadov emphasized that oil refineries have a standard capacity utilization rate: “But with effective planning, value creation initiatives, and high-level engineering solutions, it is possible to produce beyond the plant's capacity without any additional investment. For example, we have a standard capacity of 10 million tons, but we have been able to produce 11.3 million tons.”