Azerbaijan produces 0.68 mln tons of gasoline
By Aynur Jafarova
Azerbaijan produced 683,900 tons of gasoline in January-July 2014.
This figure is 16.2 percent less compared to the same period of last year, Azerbaijan's State Statistics Committee said.
Currently, Azerbaijan's state energy company SOCAR is working over the modernization of existing processing capacities due to the increase of demands for fuel in the country.
Also, Azerbaijan produced about 2.7 million tons of main types of petroleum products in the reported period against over three million tons in January-July 2013.
In 2013, the country produced about 1.41 million tons of gasoline, compared to about 1.3 million tons in 2012. Last year Azerbaijan produced 5.09 million tons of main types of petroleum products.
Azerbaijan's energy giant SOCAR, which is keen on expanding operations in the retail oil products market abroad is involved in exploring oil and gas fields, producing, processing, and transporting oil, gas, and gas condensate, marketing petroleum and petrochemical products in the domestic and international markets, and supplying natural gas to industry and the public in Azerbaijan.
SOCAR said earlier that it plans to produce gasoline which meets the Euro-5 ecological standards at the Baku Oil Refinery named after Heydar Aliyev.
The production process will start in 2018.
The company's goal is to process 7.5 million tons of oil at the refinery until 2030, which in turn will lead to the annual production of three million tons of diesel fuel and 2.4 million tons of gasoline.
This will ensure domestic demand in the country for high-quality fuel and ensure export operations in small quantities.