Azernews.Az

By Aynur Jafarova

Azerbaijan's state oil company SOCAR plans produce gasoline which meets the Euro-5 ecological standards at the Baku Oil Refinery named after Heydar Aliyev.

The production process will be started in 2018, SOCAR Vice-President for Refining David Mammadov said at the 21st International Caspian Oil & Gas Exhibition in Baku on June 5.

He noted the modernization process of the company will be carried out within 42-48 months in order to achieve this goal.

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.

The depth of the processing at the SOCAR refinery exceeds 92 percent and the company currently meets the country's fuel needs.

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.