SOCAR enjoys great potential to export diesel fuel,lubricant
By Aynur Jafarova
Azerbaijan's state energy company SOCAR enjoys great potential to export diesel fuel and lubricant.
The news was announced by SOCAR President Rovnag Abdullayev who commented on the possible export of Azerbaijan's petroleum products to Kazakhstan.
He noted the possibilities of SOCAR to export gasoline is limited due to the increasing volume of consumption of this type of oil product in the domestic market, and only small amounts are considered for export to the Central Asian state.
Kazakhstan's First Deputy Energy Minister Uzakbai Karabalin recently said that KazMunaiGas National Oil and Gas Company is negotiating with SOCAR to purchase fuels and lubricants.
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.
Currently, SOCAR works on modernization of existing processing capacities due to the increase in fuel consumption in Azerbaijan.
Azerbaijan produced 3.1 million tons of main petroleum products in January-August, which was equal to over 3.43 million tons in the same period of 2013.
In 2013, Azerbaijan produced 5.09 million tons of the main petroleum products.