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STAR oil refinery inaugurated - UPDATED

STAR oil refinery inaugurated - UPDATED

Baku. 19 October. REPORT.AZ/ President of Azerbaijan Ilham Aliyev, President of Turkey Recep Tayyip Erdoğan, President of the State Oil Company of Azerbaijan (SOCAR) Rovnag Abdullayev, Turkey’s Treasury and Finance Minister Berat Albayrak and Turkey’s Minister of Energy and Natural Resources Fatih Dönmez spoke at the opening ceremony of the STAR Oil Refinery in Izmir.

Report informs that  the oil refinery was inaugurated following the speeches.

*** 16:53

During the opening ceremony of the STAR oil refinery in Izmir, President of Azerbaijan Ilham Aliyev and President of Turkey Recep Tayyip Erdogan watched the plant area from the terrace.

Report informs that the heads of state were informed about the works carried out at the STAR oil refinery.

Then a souvenir photo was taken.

A video featuring the historical significance of the plant was first demonstrated at the opening ceremony of the STAR oil refinery. 

*** 16:29

An opening ceremony of the STAR Oil Refinery (SOCAR Turkey Aegean Refinery) of the State Oil Company of Azerbaijan (SOCAR) is being held in Aliaga, Izmir, Turkey.

Report informs that the ceremony is being attended by Azerbaijani President Ilham Aliyev, Turkish President Recep Tayyip Erdogan, SOCAR President Rovnag Abdullayev and state and government officials from both countries.

The foundation of the STAR Oil Refinery was laid down by Azerbaijani President Ilham Aliyev and Turkish President Recep Tayyip Erdogan on October 25, 2011. The refinery was constructed by a consortium comprising “Técnicas Reunidas” (Spain), “Saipem” (Italy), “GS Engineering & Construction Corp” (South Korea) and “Itochu” (Japan). The total cost of the project is $6.3 billion.  STAR has the first Strategic Investment Promotion Document of Turkey. The capacity of the refinery is 10 million tonnes of crude oil per year. The plant is planned to carry out processing of such oil grades as Azeri Light, Kerkuk and Urals.

After starting the operation, the refinery will produce 1.6 million tonnes of naphtha, 5 million tonnes of diesel, 1.6 million tonnes of aircraft fuel, 300,000 tonnes of LPG, 700,000 tonnes of oil coke, 400,000 tonnes of mixed xylol,160,000 tonnes of sulfur and other products. STAR will supply raw materials to the only petrochemical complex of Turkey - Petkim in which SOCAR holds the main share, meet the growing demand for diesel and aircraft fuel in the Turkish market and reduce Turkey’s import by $1.5 billion. The refinery will meet more than 25% of Turkey's demand for oil products.

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