“The Board of Directors of Petkim petrochemical complex gave permission to start negotiations for the purchase of 12-14 percent stake of Rafineri Holding from SOCAR Turkey Enerji, which will make it possible for Petkim to become the owner of 7-9 percent share in the Star refinery,” the Turkish media said.
The annual naphtha production volume, used by Petkim as the main raw material, will hit 1.66 million metric tons at the STAR refinery.
Along with naphtha, the new oil refinery will produce diesel fuel with ultra-low sulfur to the amount of 5.95 million metric tons, aviation kerosene - 500,000 metric tons, reformate - 500,000 metric tons, petroleum coke - 630,000 metric tons, liquefied gas - 240,000 metric tons, mixed xylene - 415,000 metric tons, olefin LPG - 75,000 metric tons and 145,000 metric tons of sulfur. The refinery will not produce petrol and fuel oil.
It is planned to refine Azeri Light, Kerkuk and URALS oil at the plant.
At present, the share distribution in the project is as follows: 60 percent is owned by Rafineri Holding A.Ş. (100 percent owned by SOCAR Turkey Enerji A.Ş.), which had previously acquired all the remaining 18.5 percent share of Turcas Petrol in the project, and 40 percent belongs to SOCAR.
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