SOCAR announced the liquidation of Azneftyag oil refinery and its merger with the Heydar Aliyev Baku Oil Refinery in January of 2015. This decision was made as part of the work to improve and optimize SOCAR`s structure.
A number of facilities will be constructed by July of 2019 in order to ensure the production of diesel fuel meeting Euro 5 standard and several facilities will be built by May of 2020 for producing gasoline meeting Euro 5 standard, according to the SOCAR OGPC representative.
The project will enable Azerbaijan to meet the domestic demands for motor gasoline in the next 15-20 years.
After the completion of the reconstruction, the processing capacity of the refinery will increase from 6 million to 7.5 million tons of oil per year.
Azerbaijan produced 5.45 million tons of oil products in 2015, compared to 5.31 million tons in 2014.
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