STAR Refinery accounts for over 35% of Türkiye’s total oil imports

In total, Türkiye imported over 12.976 million tons of crude oil during the first five months of 2024, of which 35.2% fell to the STAR Refinery, an asset of the State Oil Company of Azerbaijan (SOCAR) in Türkiye, Report informs referring to Türkiye's Energy Market Regulatory Authority.

Over the course of five months, Türkiye’s oil imports grew by 15.2% year-on-year.

Meanwhile, 64.8% or just under 8.408 million tons of oil imported to Türkiye in the reporting period fell to Türkiye Petrol Rafinerileri A.Ş., representing an increase of 27.8% year-on-year.

STAR Refinery imported more than 4.568 million tons of oil in January-May 2024, which is a 2.5% decrease compared to the same period of the previous year.

In addition, STAR Refinery exported over 2.024 million tons of petroleum products (including 1.407 million tons of diesel fuel, almost 116,675 tons of aviation fuel, and over 500,701 tons of other oil products) in five months, showing a 20.1% growth year-on-year. The refinery accounted for 29.58% of Türkiye’s total petroleum product imports in the specified period.

The STAR Refinery was inaugurated on October 19, 2018. It is designed to process Azeri Light, Kirkuk, and Urals types of oil, with an annual capacity of 13 million tons.

The refinery supplies raw materials to the Petkim petrochemical complex and enables SOCAR to enter the Mediterranean market with diesel fuel, aviation kerosene, and raw materials for the chemical industry.

SOCAR has invested nearly $7 billion in the construction and development of the STAR Refinery.