(MENAFN - Trend News Agency) Baku, Azerbaijan, June 5
By Leman Zeynalova – Trend:
Azerbaijan's state oil company SOCAR is due to purchase crude oil from Iraq next month to process at its Star Refinery in Turkey, SOCAR Turkey CEO Zaur Gahramanov said,Trendreports citing London-based SHARQ AL-AWSAT newspaper.
Gahramanov said the refineries that rely on Iranian crude oil might face future problems due to US sanctions, and that his firm doesn't wish to violate the sanctions by importing oil or exporting fuel to Tehran.
The US decision to end exemptions to sanctions on Iranian oil imports became effective on May 2. Turkey abided by the decision despite its previous rejection.
Gahramanov remarked that 1.5 million tons of crude oil has been processed at the Star Refinery so far, adding: "We plan to process 8 million tons of crude oil by the end of the year. As of next month, we will start buying Iraqi oil from the Arabian Gulf."
The opening ceremony of the Star oil refinery took place on October 19, 2018 in Izmir, Turkey.
The total refining capacity of the refinery will be 10 million tons, and Azerbaijan's state oil company SOCAR is the main supplier of crude for the refinery. The refinery will significantly reduce the dependence of Turkey on imports of petrochemical products.
The refinery worth $6.3 billion, built by SOCAR in the Aliaga District of Izmir, will produce 1.6 million tons of naphtha, 1.6 million tons of aviation fuel, 4.8 million tons of low-sulfur diesel, 700,000 tons of petroleum coke, 420,000 tons of mixed xylene and 160,000 tons of sulfur.
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