SOCAR, Rosneft sign agreement on supply of Russian oil to SOCAR's oil refinery in Turkey

Baku. 1 September. REPORT.AZ/ Within the framework of the official visit of President of the Republic of Azerbaijan Ilham Aliyev to Russia, Chief Executive Officer of Rosneft Joint Stock Company Igor Sechin and SOCAR president Rovnag Abdullayev signed a contract for the supply of Russian oil to the STAR oil refinery in Turkey.

Report informs that the document was signed on the terms of the Framework Oil Supply Agreement dated August 23, 2018. In line with the terms of the contract, the refinery is expected to receive 1 million tons of oil per year beginning from December 2018.

This contract, which was signed with the STAR plant on supplying Russian oil, proves the expansion of favorable cooperation between the two companies and will create a guarantee for the stable loading of SOCAR's new oil refining facilities in Turkey.

It should be noted that SOCAR Turkey's STAR oil refinery is located in proximity to Turkey's Izmir, on the coast of the Aegean Sea. The commissioning of the STAR oil refinery is planned for October 2018. The processing capacity of the STAR refinery is expected to make 10 million tons per year.