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SOCAR to buy oil from Saudi Aramco

15-03-2020, 08:59

Saudi Arabian Oil Company Saudi Aramco confirms SOCAR Trading’s nomination for 3 million barrels of Arab oil. It will be further loaded to company’s Star refinery in Turkey.

STAR refinery was inaugurated on October 19, 2018. The groundbreaking ceremony for the refinery built by a consortium incorporating “Técnicas Reunidas” (Spain), “Saipem” (Italy), “GS Engineering & Construction Corp” (South Korea) and “Itochu” (Japan) was held on October 25, 2011. The total investment value of the project amounts to $6.3 bn. STAR has the first investment incentive granted by Turkey.

The plant has the capacity of producing 10 mln tonnes of crude annually and makes it possible to produce Urals, Azeri Light and Kerkuk oil. Main products are diesel (4.8 million tonnes), aircraft fuel (1.6 million tonnes), naphta (1.6 million tonnes), liquid petroleum gas, mixed xylene, petroleum coke.